Canaccord Genuity Group Forecasts Strong Price Appreciation for Elemental Altus Royalties (CVE:ELE) Stock

Elemental Altus Royalties (CVE:ELE) had its price objective hoisted by stock analysts at Canaccord Genuity Group from C$30.00 to C$36.00 in a research note issued on Wednesday, BayStreet reports. Canaccord Genuity Group’s price target indicates a potential upside of 38.41% from the stock’s previous close.

Separately, National Bank Financial lifted their price objective on shares of Elemental Altus Royalties from C$32.50 to C$35.00 and gave the company an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$35.67.

Elemental Altus Royalties Price Performance

Shares of ELE remained flat at C$26.01 during trading hours on Wednesday. The stock had a trading volume of 26,251 shares, compared to its average volume of 65,764. Elemental Altus Royalties has a 12 month low of C$11.90 and a 12 month high of C$34.29. The business’s fifty day moving average is C$26.01 and its 200 day moving average is C$26.26. The firm has a market cap of C$1.67 billion, a price-to-earnings ratio of 433.50 and a beta of 0.82.

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.