Elemental Altus Royalties (CVE:ELE) Stock Price Up 5.1% – Time to Buy?

Elemental Altus Royalties Corp. (CVE:ELE)’s stock price was up 5.1% during mid-day trading on Thursday . The stock 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. National Bank Financial boosted 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 cut their price objective on shares of Elemental Altus Royalties from C$38.00 to C$33.00 in a report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$30.67.

Elemental Altus Royalties Trading Up 2.2%

The business’s fifty day moving average price is C$25.94 and its 200 day moving average price is C$19.13. The firm has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 150.35 and a beta of 0.73.

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.