Elemental Altus Royalties (CVE:ELE) Stock Price Down 2.1% – What’s Next?

Elemental Altus Royalties Corp. (CVE:ELE) fell 2.1% during mid-day trading on Monday . The company traded as low as C$20.51 and last traded at C$20.74. 24,239 shares traded hands during trading, an increase of 59% from the average session volume of 15,203 shares. The stock had previously closed at C$21.18.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELE. Canaccord Genuity Group lifted their price objective on shares of Elemental Altus Royalties from C$26.50 to C$33.00 in a report on Thursday, October 2nd. Raymond James Financial boosted their price target on shares of Elemental Altus Royalties from C$27.50 to C$29.00 in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Elemental Altus Royalties presently has an average rating of “Strong Buy” and an average target price of C$31.00.

Elemental Altus Royalties Stock Performance

The company has a market cap of C$513.67 million, a PE ratio of 69.13 and a beta of 0.23. The stock’s 50 day moving average price is C$16.84 and its 200-day moving average price is C$7.06.

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.