Altius Minerals (TSE:ALS) Shares Cross Above 50 Day Moving Average – What’s Next?

Altius Minerals Co. (TSE:ALS) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$40.97 and traded as high as C$45.99. Altius Minerals shares last traded at C$45.96, with a volume of 91,969 shares trading hands.

Wall Street Analyst Weigh In

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

Altius Minerals Price Performance

The company has a 50-day moving average price of C$41.21 and a two-hundred day moving average price of C$35.03. The company has a debt-to-equity ratio of 19.48, a current ratio of 8.36 and a quick ratio of 6.49. The company has a market cap of C$2.18 billion, a PE ratio of 6.15 and a beta of 0.20.

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.