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

Key Points

• Altius Minerals reached a new 52-week high with the stock trading at C$31.04, prompting discussions about potential buying opportunities.
• Analysts have upgraded their target prices for Altius, with a consensus target price of C$31.83 and multiple firms issuing a "buy" or "outperform" rating.
• The company announced an increase in its quarterly dividend to $0.10 per share, reflecting a commitment to returning value to shareholders.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$31.13 and last traded at C$31.04, with a volume of 18827 shares traded. The stock had previously closed at C$30.50.

Analysts Set New Price Targets

A number of research firms recently commented on ALS. National Bankshares increased their price objective on Altius Minerals from C$35.00 to C$36.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. TD Securities increased their price target 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, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of C$32.40.

Altius Minerals Stock Performance

The firm's 50 day moving average price is C$29.18 and its 200-day moving average price is C$27.11. The firm has a market cap of C$1.43 billion, a price-to-earnings ratio of 14.87 and a beta of 0.12. The company has a debt-to-equity ratio of 19.48, a current ratio of 8.36 and a quick ratio of 6.49.

Altius Minerals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.10 dividend. This is a boost from Altius Minerals's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.3%. Altius Minerals's dividend payout ratio (DPR) is 17.31%.

Insider Buying and Selling at Altius Minerals

In related news, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of the firm's stock in a transaction 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. Also, Senior Officer Mark Raguz bought 1,400 shares of Altius Minerals stock in a transaction that occurred on Friday, July 25th. The stock was purchased at an average cost of C$28.41 per share, with a total value of C$39,778.20. 19.00% of the stock is 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.