Altius Minerals (TSE:ALS) Downgraded to Hold Rating by TD

Key Points

• TD downgraded Altius Minerals from a "buy" to a "hold" while raising its price target to C$54 (from C$52), implying roughly a 6.03% upside from the prior close.
• The analyst consensus remains a Moderate Buy (three Buy ratings and two Hold ratings) with an average price target of C$47, despite several firms recently increasing their individual targets.
• Insiders have been buying shares (7,760 in the last 90 days) and now own about 19% of the company; the stock traded at C$50.93, with a market cap of C$2.85 billion and a low P/E of 8.03.

Altius Minerals (TSE:ALS - Get Free Report) was downgraded by investment analysts at TD from a "buy" rating to a "hold" rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$54.00 price target on the stock, up from their prior price target of C$52.00. TD's price target would suggest a potential upside of 6.03% from the company's previous close.

Other analysts have also issued reports about the company. National Bank Financial increased their target price on Altius Minerals from C$45.50 to C$52.00 in a report on Thursday, January 29th. TD Securities raised their target price on shares of Altius Minerals from C$39.00 to C$52.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. Canaccord Genuity Group raised their target price on shares of Altius Minerals from C$47.00 to C$51.00 in a research report on Monday, March 16th. Raymond James Financial lifted their price target on Altius Minerals from C$47.00 to C$48.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Finally, Scotiabank raised Altius Minerals to a "hold" rating in a research note on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$47.00.

Altius Minerals Stock Performance

ALS traded down C$0.62 on Friday, reaching C$50.93. The company had a trading volume of 135,764 shares, compared to its average volume of 191,953. The company has a debt-to-equity ratio of 9.98, a quick ratio of 6.49 and a current ratio of 15.11. The company's fifty day moving average is C$46.00 and its 200 day moving average is C$41.53. Altius Minerals has a fifty-two week low of C$23.26 and a fifty-two week high of C$53.46. The stock has a market cap of C$2.85 billion, a P/E ratio of 8.03 and a beta of 0.30.

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

Insider Transactions at Altius Minerals

In other Altius Minerals news, Director Brian Dalton purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of C$43.66 per share, with a total value of C$87,320.00. Following the transaction, the director owned 828,356 shares in the company, valued at C$36,166,022.96. The trade was a 0.24% increase in their ownership of the stock. Also, Director Andr� Gaumond acquired 1,000 shares of the company's stock in a transaction on Thursday, March 19th. The shares were bought at an average price of C$41.69 per share, for a total transaction of C$41,690.00. Following the completion of the purchase, the director owned 78,351 shares in the company, valued at approximately C$3,266,453.19. This represents a 1.29% increase in their position. Insiders have purchased 7,760 shares of company stock valued at $328,364 in the last 90 days. 19.00% of the stock is currently owned by company insiders.

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.

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