Altius Minerals (TSE:ALS) Reaches New 12-Month High – Here’s What Happened

Altius Minerals Co. (TSE:ALS)’s share price hit a new 52-week high on Monday . The company traded as high as C$45.42 and last traded at C$45.20, with a volume of 14976 shares. The stock had previously closed at C$43.81.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Altius Minerals from C$38.00 to C$40.00 in a report on Friday, October 17th. Raymond James Financial downgraded Altius Minerals from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$9.00 to C$9.50 in a research report on Tuesday, December 30th. Scotiabank cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. TD Securities increased their target price on Altius Minerals from C$34.00 to C$39.00 in a research note on Tuesday, October 21st. Finally, BMO Capital Markets lifted their price target on Altius Minerals from C$34.00 to C$35.00 in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$32.75.

Altius Minerals Stock Performance

The stock has a market cap of C$2.11 billion, a price-to-earnings ratio of 5.96 and a beta of 0.20. The firm has a fifty day simple moving average of C$40.11 and a 200 day simple moving average of C$34.05. The company has a current ratio of 8.36, a quick ratio of 6.49 and a debt-to-equity ratio of 19.48.

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.