Canaccord Genuity Group Forecasts Strong Price Appreciation for Altius Minerals (TSE:ALS) Stock

Altius Minerals (TSE:ALS) had its target price lifted by Canaccord Genuity Group from C$47.00 to C$51.00 in a research note issued on Monday,BayStreet.CA reports. Canaccord Genuity Group’s price target would suggest a potential upside of 16.04% from the stock’s current price.

A number of other analysts have also issued reports on ALS. Raymond James Financial boosted their price target on Altius Minerals from C$47.00 to C$48.00 and gave the company an “outperform” rating in a report on Friday. National Bank Financial increased their price objective on Altius Minerals from C$45.50 to C$52.00 in a report on Thursday, January 29th. TD Securities boosted their target price on shares of Altius Minerals from C$39.00 to C$52.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Scotiabank upgraded Altius Minerals to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.83.

Altius Minerals Trading Up 2.1%

Shares of Altius Minerals stock traded up C$0.90 during trading on Monday, hitting C$43.95. The stock had a trading volume of 2,074,173 shares, compared to its average volume of 200,061. Altius Minerals has a 12 month low of C$22.27 and a 12 month high of C$49.73. The company has a debt-to-equity ratio of 9.98, a current ratio of 15.11 and a quick ratio of 6.49. The firm’s fifty day simple moving average is C$45.23 and its 200-day simple moving average is C$39.43. The stock has a market cap of C$2.03 billion, a PE ratio of 5.75 and a beta of 0.33.

Altius Minerals (TSE:ALS) last posted its quarterly earnings data on Tuesday, March 10th. The company reported C$0.24 earnings per share for the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. The company had revenue of C$14.06 million for the quarter. As a group, sell-side analysts expect that Altius Minerals will post 0.3509869 EPS for the current fiscal year.

Insiders Place Their Bets

In other Altius Minerals news, insider Flora Emily Mackay Wood acquired 1,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were purchased at an average cost of C$43.15 per share, with a total value of C$43,150.00. Following the purchase, the insider owned 13,370 shares in the company, valued at approximately C$576,915.50. The trade was a 8.08% increase in their ownership of the stock. Also, insider Mark Raguz bought 1,160 shares of the company’s stock in a transaction on Friday, January 30th. The shares were acquired at an average price of C$43.01 per share, with a total value of C$49,891.60. Following the completion of the acquisition, the insider directly owned 20,253 shares in the company, valued at C$871,081.53. This represents a 6.08% increase in their position. Company 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.