Elemental Altus Royalties (CVE:ELE) Sets New 1-Year High - Time to Buy?

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) shares hit a new 52-week high on Tuesday . The company traded as high as C$23.50 and last traded at C$23.00, with a volume of 5124 shares changing hands. The stock had previously closed at C$2.28.

Wall Street Analysts Forecast Growth

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

Elemental Altus Royalties Trading Up 898.7%

The company has a 50 day moving average price of C$2.08 and a 200 day moving average price of C$1.68. The firm has a market cap of C$5.62 billion, a PE ratio of 759.00 and a beta of 0.01.

About Elemental Altus Royalties

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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