Elemental Altus Royalties (CVE:ELE) Reaches New 12-Month High – Should You Buy?

Elemental Altus Royalties Corp. (CVE:ELE) reached a new 52-week high during trading on Monday . The company traded as high as C$26.57 and last traded at C$25.95, with a volume of 30808 shares changing hands. The stock had previously closed at C$25.26.

Wall Street Analyst Weigh In

ELE has been the subject of a number of research reports. National Bankshares increased their target price on Elemental Altus Royalties from C$27.50 to C$30.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Canaccord Genuity Group decreased their target price on shares of Elemental Altus Royalties from C$38.00 to C$33.00 in a research note on Monday, December 1st. Finally, Raymond James Financial upped their price target on shares of Elemental Altus Royalties from C$27.50 to C$29.00 in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$30.67.

Elemental Altus Royalties Stock Performance

The business has a fifty day simple moving average of C$21.21 and a 200-day simple moving average of C$13.87. The firm has a market cap of C$1.70 billion, a price-to-earnings ratio of 133.15 and a beta of 0.40.

Elemental Altus Royalties Company Profile

Endesa, SA engages in the generation, distribution, and sale of electricity primarily in Spain and Portugal. The company generates electricity from various energy sources, such as hydroelectric, nuclear, thermal, wind, and solar. As of December 31, 2020, its distributed electricity to approximately 21 million populations covering a total area of approximately 195,488 square kilometers. The company distribution and transmission networks comprise 315,365 kilometers. It also sells energy, as well as provides energy related commercial services.