Altius Minerals (TSE:ALS) Given New C$60.00 Price Target at TD

Key Points

• TD raised its price target on Altius Minerals to C$60.00 from C$55.00, while keeping a hold rating. The new target still implies about 8% downside from the current share price.
• Altius Minerals shares were up 5.4% to C$65.21 in Tuesday trading, near the stock’s 52-week high of C$65.92. The company also traded above both its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious overall, with two Buy ratings and four Hold ratings and an average price target of C$61.75. Recent commentary from several firms has been mixed, with multiple price target increases but limited upgrades.

Altius Minerals (TSE:ALS - Get Free Report) had its price target raised by equities research analysts at TD from C$55.00 to C$60.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's target price suggests a potential downside of 7.99% from the company's current price.

A number of other equities analysts have also recently issued reports on ALS. 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 upped their price target on 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. Raymond James Financial increased their price target on Altius Minerals from C$64.00 to C$66.00 in a report on Monday. National Bank Financial raised their price objective on Altius Minerals from C$57.50 to C$62.50 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Finally, Canaccord Genuity Group boosted their price objective on Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$61.75.

Altius Minerals Trading Up 5.4%

TSE:ALS traded up C$3.35 during mid-day trading on Tuesday, hitting C$65.21. 155,635 shares of the company's stock were exchanged, compared to its average volume of 233,409. The company has a 50 day simple moving average of C$57.75 and a 200-day simple moving average of C$50.27. The company has a current ratio of 9.96, a quick ratio of 6.49 and a debt-to-equity ratio of 6.56. Altius Minerals has a fifty-two week low of C$27.08 and a fifty-two week high of C$65.92. The firm has a market capitalization of C$3.64 billion, a P/E ratio of 10.42 and a beta of 0.40.

Altius Minerals (TSE:ALS - Get Free Report) 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 net margin of 543.91% and a return on equity of 32.43%. As a group, research analysts expect that Altius Minerals will post 0.3509869 earnings per share for the current year.

Insider Buying and Selling at Altius Minerals

In other news, insider Stephanie Hussey bought 1,700 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were purchased 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 in the company, valued at C$943,830.16. This represents a 10.11% increase in their ownership of the stock. 19.00% of the stock is owned by 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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