Altius Minerals (TSE:ALS) Reaches New 52-Week High – Should You Buy?

Altius Minerals Co. (TSE:ALS)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$46.33 and last traded at C$46.00, with a volume of 13556 shares changing hands. The stock had previously closed at C$45.96.

Wall Street Analyst Weigh In

ALS has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on Altius Minerals from C$34.00 to C$35.00 in a research report on Wednesday, November 12th. Raymond James Financial lowered Altius Minerals from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from C$9.00 to C$9.50 in a research note on Tuesday, December 30th. TD Securities upped their price target on shares of Altius Minerals from C$34.00 to C$39.00 in a research report on Tuesday, October 21st. Canaccord Genuity Group upped their target price on shares of Altius Minerals from C$38.00 to C$40.00 in a research report on Friday, October 17th. Finally, Scotiabank lowered shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.75.

Altius Minerals Price Performance

The firm has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 6.08 and a beta of 0.20. The company has a debt-to-equity ratio of 19.48, a quick ratio of 6.49 and a current ratio of 8.36. The company has a 50-day moving average of C$40.97 and a 200-day moving average of C$34.81.

About Altius Minerals

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with global growth trends including increasing electricity-based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification through precious metals ownership.