Elemental Altus Royalties (CVE:ELE) Hits New 52-Week High - What's Next?

Key Points

• Elemental Altus Royalties Corp. (CVE:ELE) shares reached a new 52-week high of C$23.50, a notable increase from its previous close of C$2.28.
• National Bank Financial upgraded the company's rating from "hold" to "strong-buy", contributing to a consensus rating of "Strong Buy" among analysts.
• The stock has shown an impressive 898.7% increase over recent performance, with current market metrics reflecting significant growth.

Elemental Altus Royalties Corp. (CVE:ELE - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as C$23.50 and last traded at C$23.00, with a volume of 5124 shares. The stock had previously closed at C$2.28.

Wall Street Analyst Weigh In

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

Elemental Altus Royalties Stock Performance

The business's 50 day moving average is C$3.70 and its 200 day moving average is C$2.25. The company has a market capitalization of C$562.52 million, a price-to-earnings ratio of 76.00 and a beta of 0.01.

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.