Altius Minerals (TSE:ALS) Price Target Raised to C$52.00 at Raymond James Financial

Key Points

• Raymond James raised its price target on Altius Minerals to C$52 (from C$48) and kept an "outperform" rating, with the new target implying roughly a flat/0.02% downside versus the current share price.
• Analyst views are mixed: the consensus is a "Hold" with an average target of C$48.36, but firms diverge — National Bank lifted its target to C$57.50 and rated it outperform, while TD downgraded the stock to hold.
• Shares traded up ~3.1% to C$52.01, the stock has a market cap of C$2.90 billion and a P/E of 8.2, and insiders have been buying recently, bringing insider ownership to about 19%.

Altius Minerals (TSE:ALS - Get Free Report) had its price objective upped by Raymond James Financial from C$48.00 to C$52.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price objective points to a potential downside of 0.02% from the company's current price.

ALS has been the topic of a number of other research reports. TD cut Altius Minerals from a "buy" rating to a "hold" rating and raised their target price for the stock from C$52.00 to C$54.00 in a report on Friday, April 10th. Scotiabank upgraded Altius Minerals to a "hold" rating in a report on Thursday, March 12th. TD Securities cut Altius Minerals from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. Canaccord Genuity Group lifted their price objective on Altius Minerals from C$47.00 to C$51.00 in a report on Monday, March 16th. Finally, National Bank Financial lifted their price objective on Altius Minerals from C$55.00 to C$57.50 and gave the company an "outperform" rating in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of C$48.36.

Altius Minerals Trading Up 3.1%

ALS traded up C$1.54 during midday trading on Wednesday, reaching C$52.01. 124,822 shares of the company were exchanged, compared to its average volume of 186,895. The company has a debt-to-equity ratio of 9.98, a quick ratio of 6.49 and a current ratio of 15.11. Altius Minerals has a one year low of C$25.46 and a one year high of C$53.46. The stock has a market capitalization of C$2.90 billion, a P/E ratio of 8.20 and a beta of 0.30. The stock's 50-day simple moving average is C$47.24 and its 200 day simple moving average is C$42.66.

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

Insiders Place Their Bets

In other news, insider Mark Raguz bought 1,160 shares of the company's stock in a transaction that occurred on Friday, January 30th. The shares were acquired at an average price of C$43.01 per share, with a total value of C$49,891.60. Following the transaction, the insider owned 20,253 shares in the company, valued at C$871,081.53. This represents a 6.08% increase in their ownership of the stock. Also, Director Brian Dalton bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was purchased at an average cost of C$43.66 per share, for a total transaction of C$87,320.00. Following the transaction, the director owned 828,356 shares in the company, valued at C$36,166,022.96. The trade was a 0.24% increase in their position. Over the last quarter, insiders have acquired 7,760 shares of company stock worth $328,364. Company insiders own 19.00% of the company's stock.

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.

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