Altius Minerals (TSE:ALS) Sets New 1-Year High on Analyst Upgrade

Shares of Altius Minerals Co. (TSE:ALS) hit a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$57.00 to C$58.00. Scotiabank currently has a sector perform rating on the stock. Altius Minerals traded as high as C$61.12 and last traded at C$60.43, with a volume of 16316 shares trading hands. The stock had previously closed at C$58.23.

Other research analysts have also issued research reports about the company. Raymond James Financial lifted their price target on Altius Minerals from C$52.00 to C$59.00 in a report on Thursday, May 14th. National Bank Financial lifted their price target on Altius Minerals from C$57.50 to C$62.50 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Canaccord Genuity Group lifted their price target on Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday, May 12th. BMO Capital Markets lifted their price target on Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, TD Securities downgraded Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$56.36.

Insiders Place Their Bets

In other Altius Minerals news, Director Andr� Gaumond acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of C$41.69 per share, with a total value of C$41,690.00. Following the transaction, the director owned 78,351 shares of the company’s stock, valued at C$3,266,453.19. This trade represents a 1.29% increase in their ownership of the stock. Also, Director Brian Dalton acquired 1,600 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of C$41.32 per share, with a total value of C$66,112.00. Following the completion of the transaction, the director directly owned 829,956 shares in the company, valued at approximately C$34,293,781.92. The trade was a 0.19% increase in their position. Insiders bought a total of 5,620 shares of company stock valued at $250,954 over the last 90 days. Company insiders own 19.00% of the company’s stock.

Altius Minerals Price Performance

The company has a debt-to-equity ratio of 6.56, a current ratio of 9.96 and a quick ratio of 6.49. The company has a market capitalization of C$3.39 billion, a PE ratio of 9.72 and a beta of 0.39. The stock’s 50 day simple moving average is C$53.78 and its 200-day simple moving average is C$47.33.

Altius Minerals (TSE:ALS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.11 earnings per share (EPS) for the quarter. Altius Minerals had a net margin of 543.91% and a return on equity of 32.43%. The company had revenue of C$22.17 million for the quarter. As a group, equities analysts forecast that Altius Minerals Co. will post 0.3509869 earnings per share for the current fiscal year.

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.