Elemental Altus Royalties (CVE:ELE) Reaches New 1-Year High - Still a Buy?

Key Points

• Elemental Altus Royalties shares reached a new 52-week high of C$25.64 during mid-day trading, marking a notable increase from the previous close of C$24.24.
• National Bank Financial upgraded the stock's rating from "hold" to "strong-buy", contributing to an overall average rating of "Strong Buy" among analysts.
• The company currently has a market capitalization of C$616.80 million and a high PE ratio of 83.33, indicating significant investor interest and valuation.

Elemental Altus Royalties Corp. (CVE:ELE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$25.64 and last traded at C$25.64, with a volume of 50996 shares traded. The stock had previously closed at C$24.24.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial raised shares of Elemental Altus Royalties from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Elemental Altus Royalties presently has an average rating of "Strong Buy" and an average target price of C$2.25.

Elemental Altus Royalties Price Performance

The company has a market capitalization of C$616.80 million, a PE ratio of 83.33 and a beta of 0.01. The company's fifty day moving average is C$5.78 and its 200-day moving average is C$3.02.

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.

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