Altius Minerals (TSE:ALS) Hits New 1-Year High – Still a Buy?

Shares of Altius Minerals Co. (TSE:ALS) hit a new 52-week high during trading on Wednesday. The stock traded as high as C$69.55 and last traded at C$68.70, with a volume of 196963 shares traded. The stock had previously closed at C$67.97.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALS. Scotiabank raised shares of Altius Minerals to a “hold” rating in a research note on Thursday, July 23rd. Raymond James Financial boosted their price objective on shares of Altius Minerals from C$66.00 to C$69.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. TD set a C$60.00 target price on Altius Minerals and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Canaccord Genuity Group lifted their target price on Altius Minerals from C$60.00 to C$70.00 in a report on Tuesday, August 11th. Finally, National Bank Financial boosted their price target on Altius Minerals from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$64.00.

Altius Minerals Trading Down 1.4%

The stock has a market capitalization of C$3.95 billion, a price-to-earnings ratio of 10.67 and a beta of 0.49. The company has a debt-to-equity ratio of 6.47, a current ratio of 13.49 and a quick ratio of 6.49. The business’s 50-day simple moving average is C$63.03 and its two-hundred day simple moving average is C$57.10.

Altius Minerals (TSE:ALS) last released its quarterly earnings data on Monday, August 10th. The company reported C$0.14 earnings per share (EPS) for the quarter. Altius Minerals had a net margin of 462.21% and a return on equity of 27.08%. The company had revenue of C$23.15 million during the quarter. On average, research analysts anticipate 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.