Elemental Altus Royalties (CVE:ELE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has raised the price target for Elemental Altus Royalties (CVE:ELE) from C$26.50 to C$33.00, suggesting a potential upside of 38.54% from the current price.
• National Bank Financial upgraded the stock from a "hold" rating to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy."
• The stock recently traded at C$23.82, experiencing a yearly price range between C$10.70 and C$25.79.

Elemental Altus Royalties (CVE:ELE - Get Free Report) had its price target raised by equities research analysts at Canaccord Genuity Group from C$26.50 to C$33.00 in a research note issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group's target price would indicate a potential upside of 38.54% from the company's current price.

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 equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has a consensus rating of "Strong Buy" and a consensus target price of C$17.63.

Elemental Altus Royalties Stock Performance

Shares of CVE ELE traded down C$1.17 during mid-day trading on Thursday, hitting C$23.82. The stock had a trading volume of 15,423 shares, compared to its average volume of 14,012. Elemental Altus Royalties has a 1 year low of C$10.70 and a 1 year high of C$25.79. The business has a 50 day moving average price of C$7.15 and a two-hundred day moving average price of C$3.49. The firm has a market cap of C$587.69 million, a P/E ratio of 79.40 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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