Elemental Altus Royalties (CVE:ELE) Trading 2% Higher - What's Next?

Key Points

• Elemental Altus Royalties Corp. shares increased by 2% during mid-day trading, closing at C$2.04, with trading volume up 34% from average levels.
• National Bank Financial has upgraded the company from a "hold" rating to a "strong-buy" rating, reflecting a positive sentiment towards the stock.
• Currently, Elemental Altus has a market cap of C$346.52 million and an average price target of C$2.25 according to analysts.

Shares of Elemental Altus Royalties Corp. (CVE:ELE - Get Free Report) rose 2% during mid-day trading on Tuesday . The stock traded as high as C$2.05 and last traded at C$2.04. Approximately 140,956 shares changed hands during trading, an increase of 34% from the average daily volume of 104,863 shares. The stock had previously closed at C$2.00.

Analyst Ratings Changes

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

Elemental Altus Royalties Stock Down 1.9%

The firm has a market capitalization of C$356.72 million and a P/E ratio of 259.48. The company's 50 day moving average is C$1.99 and its 200-day moving average is C$1.57.

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.