Elemental Altus Royalties (CVE:ELE) Given New C$36.00 Price Target at Raymond James Financial

Elemental Altus Royalties (CVE:ELE) had its target price increased by analysts at Raymond James Financial from C$33.00 to C$36.00 in a research report issued on Wednesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 38.41% from the company’s previous close.

ELE has been the subject of a number of other research reports. National Bank Financial raised their price objective on Elemental Altus Royalties from C$32.50 to C$35.00 and gave the company an “outperform” rating in a research report on Monday. Canaccord Genuity Group raised their price target on Elemental Altus Royalties from C$30.00 to C$36.00 in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$35.67.

Elemental Altus Royalties Stock Performance

CVE:ELE remained flat at C$26.01 during mid-day trading on Wednesday. 26,251 shares of the company traded hands, compared to its average volume of 65,764. The stock has a market cap of C$1.67 billion, a P/E ratio of 433.50 and a beta of 0.82. Elemental Altus Royalties has a 1-year low of C$11.90 and a 1-year high of C$34.29. The company has a 50 day moving average price of C$26.01 and a two-hundred day moving average price of C$26.26.

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