Altius Minerals (TSE:ALS) Sets New 1-Year High Following Analyst Upgrade

Altius Minerals Co. (TSE:ALS)’s stock price reached a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$57.00 to C$58.00. Scotiabank currently has a sector perform rating on the stock. Altius Minerals traded as high as C$61.12 and last traded at C$60.43, with a volume of 16316 shares changing hands. The stock had previously closed at C$58.23.

Other research analysts have also recently issued reports about the company. BMO Capital Markets upped their price objective on Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. TD Securities cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. TD cut Altius Minerals from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$52.00 to C$54.00 in a research report on Friday, April 10th. Raymond James Financial upped their price objective on Altius Minerals from C$52.00 to C$59.00 in a research report on Thursday, May 14th. Finally, Canaccord Genuity Group upped their price objective on Altius Minerals from C$51.00 to C$60.00 in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$56.36.

Insider Buying and Selling

In related news, insider Stephanie Hussey bought 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of C$50.96 per share, for a total transaction of C$86,632.00. Following the completion of the acquisition, the insider owned 18,521 shares of the company’s stock, valued at approximately C$943,830.16. The trade was a 10.11% increase in their position. Also, insider Mark Raguz bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of C$40.20 per share, for a total transaction of C$40,200.00. Following the acquisition, the insider directly owned 21,253 shares of the company’s stock, valued at C$854,370.60. This represents a 4.94% increase in their position. Over the last ninety days, insiders have acquired 5,620 shares of company stock worth $250,954. Insiders own 19.00% of the company’s stock.

Altius Minerals Stock Up 1.6%

The company has a quick ratio of 6.49, a current ratio of 9.96 and a debt-to-equity ratio of 6.56. The firm has a 50 day simple moving average of C$53.78 and a 200-day simple moving average of C$47.33. The stock has a market cap of C$3.39 billion, a P/E ratio of 9.72 and a beta of 0.39.

Altius Minerals (TSE:ALS) last released its quarterly earnings data 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%. On average, equities research analysts forecast 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.