Altius Minerals (TSE:ALS) Hits New 1-Year High – What’s Next?

Altius Minerals Co. (TSE:ALS) hit a new 52-week high during trading on Thursday . The stock traded as high as C$68.41 and last traded at C$68.23, with a volume of 54034 shares changing hands. The stock had previously closed at C$65.22.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALS. Canaccord Genuity Group raised their price objective on shares of Altius Minerals from C$60.00 to C$70.00 in a research report on Tuesday, August 11th. National Bank Financial boosted their target price on shares of Altius Minerals from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. ATB Cormark Capital Markets increased their price target on shares of Altius Minerals from C$68.00 to C$79.00 in a research note on Tuesday, July 14th. Scotiabank raised shares of Altius Minerals to a “hold” rating in a research note on Thursday, July 23rd. Finally, Raymond James Financial upped their price objective on shares of Altius Minerals from C$66.00 to C$69.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Altius Minerals has an average rating of “Hold” and a consensus target price of C$64.00.

Altius Minerals Price Performance

The stock has a 50 day moving average of C$62.20 and a two-hundred day moving average of C$56.22. The company has a debt-to-equity ratio of 6.47, a quick ratio of 6.49 and a current ratio of 13.49. The firm has a market capitalization of C$4.00 billion, a P/E ratio of 10.80 and a beta of 0.49.

Altius Minerals (TSE:ALS) last announced its earnings results on Monday, August 10th. The company reported C$0.14 earnings per share (EPS) for the quarter. Altius Minerals had a return on equity of 27.08% and a net margin of 462.21%.The firm had revenue of C$23.15 million during the quarter. Sell-side analysts predict that Altius Minerals Co. will post 0.3509869 earnings per share for the current fiscal year.

Altius Minerals Company Profile

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.