Altius Minerals (TSE:ALS) Reaches New 1-Year High Following Dividend Announcement

Key Points

• Altius Minerals shares reached a new 52-week high of C$30.51 following the announcement of a dividend increase to $0.10 per share, up from $0.09.
• Analysts have raised their price targets for Altius Minerals, with Canaccord Genuity increasing its target from C$33.00 to C$35.00 and TD Securities raising theirs from C$32.00 to C$34.00.
• The company reported a market capitalization of C$1.40 billion and a high payout ratio of 121.85%, suggesting a substantial return to shareholders relative to its earnings.

Shares of Altius Minerals Co. (TSE:ALS - Get Free Report) hit a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as C$30.51 and last traded at C$30.43, with a volume of 58728 shares changing hands. The stock had previously closed at C$30.15.The newly announced dividend which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.10 per share. This is a positive change from Altius Minerals's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Altius Minerals's payout ratio is 121.85%.

Analysts Set New Price Targets

ALS has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on Altius Minerals from C$33.00 to C$35.00 in a research note on Monday, April 21st. TD Securities increased their price target on shares of 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.

Altius Minerals Price Performance

The company has a debt-to-equity ratio of 19.48, a current ratio of 8.36 and a quick ratio of 6.49. The firm has a market capitalization of C$1.40 billion, a P/E ratio of 102.45 and a beta of 0.94. The company's 50 day moving average price is C$27.75 and its 200 day moving average price is C$26.58.

Insider Activity

In other news, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of Altius Minerals stock in a transaction on Friday, August 1st. The shares were sold at an average price of C$29.10, for a total transaction of C$88,289.40. Also, Senior Officer Mark Raguz acquired 1,400 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average cost of C$28.41 per share, for a total transaction of C$39,778.20. 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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