Elemental Altus Royalties (CVE:ELE) Stock Price Expected to Rise, National Bankshares Analyst Says

Elemental Altus Royalties (CVE:ELE) had its price objective upped by research analysts at National Bankshares from C$27.50 to C$30.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 49.18% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Raymond James Financial boosted their price target on shares of Elemental Altus Royalties from C$27.50 to C$29.00 in a research report on Friday, October 10th. Canaccord Genuity Group lowered their target price on Elemental Altus Royalties from C$38.00 to C$33.00 in a research note on Monday, December 1st. One 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 presently has an average rating of “Strong Buy” and a consensus price target of C$30.67.

Elemental Altus Royalties Price Performance

Shares of CVE:ELE traded up C$0.52 during trading on Tuesday, hitting C$20.11. 15,563 shares of the company were exchanged, compared to its average volume of 19,984. The firm’s 50 day moving average price is C$21.69 and its 200-day moving average price is C$10.36. Elemental Altus Royalties has a 12-month low of C$10.70 and a 12-month high of C$25.79. The stock has a market capitalization of C$1.28 billion, a P/E ratio of 100.55 and a beta of 0.29.

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.