Altius Minerals (TSE:ALS) Hits New 1-Year High - Time to Buy?

Key Points

• Altius Minerals shares reached a new 52-week high of C$34.63, indicating strong market performance with a recent increase in share volume.
• Research firms have raised their target prices for Altius Minerals, with ratings of "Buy" from multiple analysts, reflecting a consensus outlook of positive growth.
• The company recently increased its quarterly dividend to $0.10 per share, which now represents a 1.2% annualized dividend yield, highlighting a commitment to returning value to shareholders.

Altius Minerals Co. (TSE:ALS - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$34.63 and last traded at C$34.63, with a volume of 58008 shares changing hands. The stock had previously closed at C$33.50.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALS. National Bankshares raised their target price on Altius Minerals from C$35.00 to C$36.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Raymond James Financial raised their target price on Altius Minerals from C$36.00 to C$37.00 in a report on Friday, October 10th. Finally, TD Securities raised their target price on Altius Minerals from C$32.00 to C$34.00 and gave the company a "buy" rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$33.17.

Altius Minerals Price Performance

The stock has a 50-day simple moving average of C$31.12 and a 200 day simple moving average of C$28.20. The company has a debt-to-equity ratio of 19.48, a quick ratio of 6.49 and a current ratio of 8.36. The company has a market cap of C$1.60 billion, a P/E ratio of 16.65 and a beta of 0.26.

Altius Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Altius Minerals's previous quarterly dividend of $0.09. Altius Minerals's dividend payout ratio (DPR) is currently 17.31%.

Insider Buying and Selling

In other news, Senior Officer Mark Raguz acquired 1,400 shares of Altius Minerals stock in a transaction on Friday, July 25th. The stock was bought at an average price of C$28.41 per share, for a total transaction of C$39,778.20. Also, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of C$29.10, for a total value of C$88,289.40. 19.00% of the stock is currently owned by company insiders.

About Altius Minerals

Altius Minerals Corp is engaged in the business of obtaining diversified mining royalty. It holds interests in mining operations that produce metals and minerals such as copper, zinc, nickel, cobalt, gold, silver, and potash. The corporation also holds other pre-development stage royalty interests and various earlier stage royalties.

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