Altius Minerals (TSE:ALS) Sets New 52-Week High - Still a 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) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$31.13 and last traded at C$31.04, with a volume of 18827 shares changing hands. The stock had previously closed at C$30.50.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Securities lifted their price target on Altius Minerals from C$32.00 to C$34.00 and gave the company a "buy" rating in a research note on Monday, July 28th. National Bankshares raised their price objective 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. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$31.83.

Altius Minerals Stock Performance

The company has a 50-day moving average price of C$29.09 and a two-hundred day moving average price of C$27.08. The company has a current ratio of 8.36, a quick ratio of 6.49 and a debt-to-equity ratio of 19.48. The stock has a market capitalization of C$1.44 billion, a P/E ratio of 14.91 and a beta of 0.12.

Altius Minerals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Altius Minerals's previous quarterly dividend of $0.09. Altius Minerals's payout ratio is presently 17.31%.

Insider Transactions at Altius Minerals

In related news, Senior Officer Mark Raguz acquired 1,400 shares of the firm's stock in a transaction 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. Also, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of the business'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. 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.