Elemental Altus Royalties (CVE:ELE) Reaches New 52-Week High – Here’s What Happened

Elemental Altus Royalties Corp. (CVE:ELE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$30.00 and last traded at C$29.76, with a volume of 30507 shares. The stock had previously closed at C$28.72.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELE. Raymond James Financial increased their price objective on Elemental Altus Royalties from C$27.50 to C$29.00 in a research report on Friday, October 10th. Canaccord Genuity Group decreased their price target on Elemental Altus Royalties from C$38.00 to C$33.00 in a research note on Monday, December 1st. Finally, National Bankshares raised their price objective on Elemental Altus Royalties from C$27.50 to C$30.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Buy” and a consensus target price of C$30.67.

Elemental Altus Royalties Stock Performance

The company has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 141.35 and a beta of 0.40. The firm has a 50-day simple moving average of C$23.10 and a two-hundred day simple moving average of C$16.13.

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.