Altius Minerals (ALS) Hits New 52-Week High Following Dividend Announcement
Shares of Altius Minerals Co. (TSE:ALS) reached a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$14.20 and last traded at C$13.59, with a volume of 85913 shares trading hands. The stock had previously closed at C$13.54.
The newly announced dividend which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.10%. This is an increase from Altius Minerals’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, January 4th. Altius Minerals’s dividend payout ratio (DPR) is -8.22%.
ALS has been the subject of several recent analyst reports. Scotiabank restated a “sector perform” rating and issued a C$14.50 target price on shares of Altius Minerals in a research note on Tuesday, November 21st. TD Securities raised their target price on shares of Altius Minerals from C$16.50 to C$17.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Finally, Raymond James Financial raised their target price on shares of Altius Minerals from C$13.00 to C$14.50 and gave the company an “outperform” rating in a research note on Wednesday, November 22nd.
In related news, Director Roger Lace purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was acquired at an average price of C$11.75 per share, with a total value of C$117,500.00.
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About Altius Minerals
Altius Minerals Corporation is a mining royalty and mineral project generation company. The Company is engaged in the generation and acquisition of mineral resource projects, royalties and investments. The royalty interests cover mining operations producing copper, zinc, nickel, cobalt, precious metals, potash, and thermal (electrical) and metallurgical coal.
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