Elemental Altus Royalties (CVE:ELE) Reaches New 52-Week High – Still a Buy?

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ELE shares. Raymond James Financial raised their target price on Elemental Altus Royalties from C$27.50 to C$29.00 in a research report on Friday, October 10th. National Bankshares raised their price objective on Elemental Altus Royalties from C$27.50 to C$30.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, Canaccord Genuity Group lowered 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. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus price target of C$30.67.

Elemental Altus Royalties Stock Down 0.7%

The company’s 50-day moving average is C$21.49 and its 200-day moving average is C$14.22. The stock has a market capitalization of C$1.75 billion, a price-to-earnings ratio of 137.50 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.