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

Altius Minerals Co. (TSE:ALS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$60.74 and last traded at C$59.65, with a volume of 278970 shares trading hands. The stock had previously closed at C$57.92.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD cut shares of Altius Minerals from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$52.00 to C$54.00 in a research note on Friday, April 10th. National Bank Financial lifted their price objective on shares of Altius Minerals from C$57.50 to C$62.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. BMO Capital Markets lifted their price objective on shares of Altius Minerals from C$44.00 to C$49.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Canaccord Genuity Group lifted their price objective on shares of Altius Minerals from C$51.00 to C$60.00 in a research note on Tuesday, May 12th. Finally, Raymond James Financial lifted their price objective on shares of Altius Minerals from C$52.00 to C$59.00 in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$53.36.

Altius Minerals Price Performance

The business’s 50 day moving average is C$51.43 and its 200-day moving average is C$45.97. The firm has a market capitalization of C$3.32 billion, a P/E ratio of 9.53 and a beta of 0.36. The company has a quick ratio of 6.49, a current ratio of 9.96 and a debt-to-equity ratio of 6.56.

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 for the quarter. Altius Minerals had a net margin of 543.91% and a return on equity of 32.43%. As a group, sell-side analysts predict that Altius Minerals Co. will post 0.3509869 EPS for the current fiscal year.

Insider Activity at Altius Minerals

In related news, insider Stephanie Hussey bought 1,700 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of C$50.96 per share, with a total value of C$86,632.00. Following the completion of the purchase, the insider owned 18,521 shares in the company, valued at C$943,830.16. This represents a 10.11% increase in their position. Also, Director Brian Dalton bought 1,600 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were bought at an average cost of C$41.32 per share, for a total transaction of C$66,112.00. Following the purchase, the director owned 829,956 shares of the company’s stock, valued at approximately C$34,293,781.92. The trade was a 0.19% increase in their position. In the last ninety days, insiders bought 7,620 shares of company stock worth $338,274. Corporate insiders own 19.00% of the company’s stock.

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.