Altius Minerals (TSE:ALS) Price Target Raised to C$48.00 at Raymond James Financial

Key Points

• Raymond James raised its price target on Altius to C$48.00 (from C$47.00) and kept an "outperform" rating, implying roughly an 11.99% upside from the current share price.
• Other firms are bullish too—National Bank and TD lifted targets to C$52.00 while Scotiabank holds; the consensus is a Moderate Buy with an average target of C$44.00.
• Altius traded at C$42.86 (52-week range C$22.27–C$49.73), has a market cap of C$1.98B and a low P/E of 5.6, reported C$0.24 EPS last quarter with very high margins, and insiders increased their holdings, now owning about 19% of the stock.

Altius Minerals (TSE:ALS - Get Free Report) had its price objective increased by Raymond James Financial from C$47.00 to C$48.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price target would indicate a potential upside of 11.99% from the company's current price.

ALS has been the topic of several other research reports. National Bank Financial raised their price target on Altius Minerals from C$45.50 to C$52.00 in a report on Thursday, January 29th. Scotiabank upgraded shares of Altius Minerals to a "hold" rating in a research report on Thursday. Finally, TD Securities raised their target price on shares of Altius Minerals from C$39.00 to C$52.00 and gave the company a "buy" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Altius Minerals presently has a consensus rating of "Moderate Buy" and an average target price of C$44.00.

Altius Minerals Price Performance

TSE ALS traded down C$1.78 on Friday, hitting C$42.86. The stock had a trading volume of 141,747 shares, compared to its average volume of 161,365. Altius Minerals has a 52-week low of C$22.27 and a 52-week high of C$49.73. The company has a debt-to-equity ratio of 9.98, a quick ratio of 6.49 and a current ratio of 15.11. The company has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 5.60 and a beta of 0.33. The firm has a 50-day moving average of C$45.19 and a 200-day moving average of C$39.19.

Altius Minerals (TSE:ALS - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported C$0.24 EPS for the quarter. The firm had revenue of C$14.06 million during the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. Equities analysts expect that Altius Minerals will post 0.3509869 EPS for the current year.

Insiders Place Their Bets

In other news, insider Flora Emily Mackay Wood purchased 1,000 shares of the company's stock in a transaction on Friday, January 30th. The stock was purchased at an average price of C$43.15 per share, with a total value of C$43,150.00. Following the completion of the purchase, the insider directly owned 13,370 shares in the company, valued at approximately C$576,915.50. This trade represents a 8.08% increase in their position. Also, insider Mark Raguz acquired 1,160 shares of the business's stock in a transaction dated Friday, January 30th. The stock was purchased at an average price of C$43.01 per share, with a total value of C$49,891.60. Following the completion of the acquisition, the insider directly owned 20,253 shares in the company, valued at approximately C$871,081.53. This represents a 6.08% increase in their position. 19.00% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.