Elemental Altus Royalties (CVE:ELE) Trading Up 5.1% – Here’s What Happened

Elemental Altus Royalties Corp. (CVE:ELE) shot up 5.1% during mid-day trading on Thursday . The company traded as high as C$29.50 and last traded at C$29.41. 41,949 shares changed hands during trading, a decline of 40% from the average session volume of 70,308 shares. The stock had previously closed at C$27.98.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELE. Canaccord Genuity Group lowered their price target on Elemental Altus Royalties from C$38.00 to C$33.00 in a research report on Monday, December 1st. National Bank Financial increased their price objective on Elemental Altus Royalties from C$27.50 to C$30.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$30.67.

Elemental Altus Royalties Price Performance

The stock has a market capitalization of C$1.88 billion, a P/E ratio of 147.05 and a beta of 0.73. The stock has a 50 day moving average price of C$25.75 and a 200-day moving average price of C$18.94.

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. The company distribution and transmission networks comprise 315,365 kilometers. It also sells energy, as well as provides energy related commercial services.