Altius Minerals (TSE:ALS) Shares Down 14% – Here’s What Happened

Altius Minerals Co. (TSE:ALS) fell 14% during trading on Wednesday . The company traded as low as C$55.83 and last traded at C$56.80. Approximately 883,434 shares traded hands during mid-day trading, an increase of 270% from the average session volume of 239,030 shares. The stock had previously closed at C$66.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALS shares. Scotiabank raised their price target on Altius Minerals from C$57.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. TD increased their price objective on Altius Minerals from C$55.00 to C$60.00 and gave the stock a “hold” rating in a report on Tuesday. National Bank Financial lifted their target price on shares of Altius Minerals from C$62.50 to C$70.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Securities lowered shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Finally, Canaccord Genuity Group raised their price target on shares of Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Altius Minerals currently has a consensus rating of “Hold” and a consensus price target of C$61.75.

Altius Minerals Stock Performance

The stock has a fifty day moving average price of C$58.22 and a 200 day moving average price of C$50.69. The company has a current ratio of 9.96, a quick ratio of 6.49 and a debt-to-equity ratio of 6.56. The firm has a market cap of C$3.20 billion, a price-to-earnings ratio of 9.18 and a beta of 0.40.

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

Insider Activity at Altius Minerals

In other news, insider Stephanie Hussey acquired 1,700 shares of Altius Minerals stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of C$50.96 per share, for a total transaction of C$86,632.00. Following the completion of the purchase, the insider owned 18,521 shares of the company’s stock, valued at C$943,830.16. This represents a 10.11% increase in their ownership of the stock. 19.00% of the stock is currently owned by corporate insiders.

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.