Altius Minerals (TSE:ALS) Hits New 12-Month High - What's Next?

Key Points

• Altius Minerals shares reached a new 52-week high of C$31.46, with the latest trading price at C$31.36 and a trading volume of 16,201 shares.
• Analysts have issued positive ratings for Altius Minerals, with price targets raised by National Bankshares to C$36.00 and by TD Securities to C$34.00, reflecting a consensus "Buy" rating.
• The company increased its quarterly dividend to $0.10 per share, marking a positive change from the previous rate and resulting in an annualized yield of 1.3%.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$31.46 and last traded at C$31.36, with a volume of 16201 shares traded. The stock had previously closed at C$30.98.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. National Bankshares raised their price objective on shares of Altius Minerals from C$35.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. TD Securities raised their price objective 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. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Altius Minerals has a consensus rating of "Buy" and an average target price of C$32.40.

Altius Minerals Price Performance

The company has a market cap of C$1.48 billion, a price-to-earnings ratio of 15.33 and a beta of 0.12. 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 company's 50 day moving average price is C$29.43 and its 200 day moving average price is C$27.23.

Altius Minerals Increases Dividend

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

Insider Buying and Selling at Altius Minerals

In other news, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of C$29.10, for a total value of C$88,289.40. Also, Senior Officer Mark Raguz acquired 1,400 shares of Altius Minerals stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average price of C$28.41 per share, with a total value of C$39,778.20. 19.00% of the stock is currently 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.