Altius Minerals (TSE:ALS) Reaches New 52-Week High – Here’s What Happened

Altius Minerals Co. (TSE:ALS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$65.29 and last traded at C$65.06, with a volume of 132633 shares. The stock had previously closed at C$64.62.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Altius Minerals from C$44.00 to C$49.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Canaccord Genuity Group upped their price objective on shares of Altius Minerals from C$51.00 to C$60.00 in a research note on Tuesday, May 12th. TD Securities cut shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Scotiabank lifted their target price on shares of 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. Finally, National Bank Financial boosted their target price on shares of Altius Minerals from C$57.50 to C$62.50 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Two 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 company currently has an average rating of “Hold” and an average target price of C$56.36.

Altius Minerals Stock Up 0.9%

The firm has a market cap of C$3.64 billion, a price-to-earnings ratio of 10.42 and a beta of 0.40. The firm has a 50 day moving average of C$56.34 and a 200 day moving average of C$49.33. 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 issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.11 earnings per share (EPS) for the quarter. The firm had revenue of C$22.17 million for the quarter. Altius Minerals had a return on equity of 32.43% and a net margin of 543.91%. As a group, sell-side analysts predict that Altius Minerals Co. will post 0.3509869 earnings per share for the current year.

Insider Buying and Selling at Altius Minerals

In related news, insider Stephanie Hussey acquired 1,700 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of C$50.96 per share, with a total value of C$86,632.00. Following the transaction, the insider directly owned 18,521 shares of the company’s stock, valued at C$943,830.16. This trade represents a 10.11% increase in their ownership of the stock. 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.