Altius Minerals (TSE:ALS) Hits New 12-Month High - Should You Buy?

Key Points

• Altius Minerals has reached a new 52-week high of C$34.30, with the stock last trading at C$34.09 and a trading volume of 66,164 shares.
• Analysts have raised their price targets for the company, with National Bankshares increasing it to C$36.00 and TD Securities to C$34.00, while the average target price now stands at C$32.40.
• The company declared a quarterly dividend of $0.10 per share, reflecting an increase from the previous $0.09 and an annualized yield of 1.2%.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$34.30 and last traded at C$34.09, with a volume of 66164 shares traded. The stock had previously closed at C$33.49.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALS. National Bankshares boosted their target price on Altius Minerals from C$35.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. TD Securities boosted their target price on Altius Minerals from C$32.00 to C$34.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$32.40.

Altius Minerals Price Performance

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 50-day moving average of C$30.10 and a 200-day moving average of C$27.58. The firm has a market capitalization of C$1.58 billion, a price-to-earnings ratio of 16.39 and a beta of 0.12.

Altius Minerals Increases Dividend

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

Insider Buying and Selling

In other news, Senior Officer Mark Raguz purchased 1,400 shares of Altius Minerals stock in a transaction on Friday, July 25th. The stock was purchased at an average price of C$28.41 per share, with a total value of C$39,778.20. Also, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of the company'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. Corporate insiders own 19.00% of the company's stock.

Altius Minerals Company Profile

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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