Elemental Altus Royalties (CVE:ELE) Trading 5.1% Higher – Should You Buy?

Elemental Altus Royalties Corp. (CVE:ELE)’s stock price rose 5.1% on Thursday . The company traded as high as C$29.50 and last traded at C$29.41. Approximately 41,949 shares traded hands during trading, a decline of 40% from the average daily volume of 70,308 shares. The stock had previously closed at C$27.98.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ELE. National Bank Financial lifted their target price on shares of 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 cut their price target on shares of Elemental Altus Royalties from C$38.00 to C$33.00 in a report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$30.67.

Elemental Altus Royalties Price Performance

The stock has a market capitalization of C$1.88 billion, a PE ratio of 147.05 and a beta of 0.73. The company has a 50 day moving average price of C$25.75 and a 200-day moving average price of C$18.94.

About Elemental Altus Royalties

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.