Elemental Altus Royalties (CVE:ELE) Raised to Strong-Buy at HC Wainwright

Elemental Altus Royalties (CVE:ELE) was upgraded by investment analysts at HC Wainwright to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on ELE. Canaccord Genuity Group dropped their target price on Elemental Altus Royalties from C$38.00 to C$33.00 in a report on Monday, December 1st. National Bank Financial increased their price target on Elemental Altus Royalties from C$27.50 to C$30.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. One investment 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, Elemental Altus Royalties currently has an average rating of “Strong Buy” and an average target price of C$30.67.

Elemental Altus Royalties Trading Up 1.7%

Shares of CVE:ELE opened at C$31.04 on Monday. The company has a 50 day moving average of C$28.75 and a 200-day moving average of C$22.64. The firm has a market cap of C$1.98 billion, a P/E ratio of 155.20 and a beta of 0.46. Elemental Altus Royalties has a twelve month low of C$11.80 and a twelve month high of C$34.29.

Insider Buying and Selling at Elemental Altus Royalties

In other news, Director David M. Cole sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of C$29.00, for a total transaction of C$145,000.00. Following the completion of the transaction, the director owned 775,863 shares in the company, valued at approximately C$22,500,027. This trade represents a 0.64% decrease in their position.

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.