Altius Minerals (TSE:ALS) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Altius Minerals hit a new 52-week high, trading as high as C$65.75 after National Bank Financial raised its price target to C$70.00 and maintained an outperform rating.
• Several other analysts also lifted their targets, including ATB Cormark and Canaccord, though the overall consensus remains Hold with an average target price of C$61.75.
• Insider buying added to the positive tone, with Stephanie Hussey purchasing 1,700 shares, while the company recently reported quarterly EPS of C$0.11 on revenue of C$22.17 million.

Shares of Altius Minerals Co. (TSE:ALS - Get Free Report) reached a new 52-week high during trading on Tuesday after National Bank Financial raised their price target on the stock from C$62.50 to C$70.00. National Bank Financial currently has an outperform rating on the stock. Altius Minerals traded as high as C$65.75 and last traded at C$65.75, with a volume of 206217 shares traded. The stock had previously closed at C$61.86.

A number of other equities analysts have also issued reports on the stock. ATB Cormark Capital Markets raised their price target on shares of Altius Minerals from C$68.00 to C$79.00 in a research report on Tuesday. TD Securities lowered shares of Altius Minerals from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. Canaccord Genuity Group raised their target price on shares of Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday, May 12th. Scotiabank boosted their target price on shares of Altius Minerals from C$57.00 to C$58.00 and gave the company a "sector perform" rating in a research report on Monday, June 15th. Finally, TD upped their price target on shares of Altius Minerals from C$55.00 to C$60.00 and gave the company a "hold" rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$61.75.

Insider Transactions at Altius Minerals

In related news, insider Stephanie Hussey purchased 1,700 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of C$50.96 per share, with a total value of C$86,632.00. Following the completion of the acquisition, the insider owned 18,521 shares of the company's stock, valued at C$943,830.16. The trade was a 10.11% increase in their position. Insiders own 19.00% of the company's stock.

Altius Minerals Stock Performance

The firm's 50 day moving average is C$57.75 and its 200-day moving average is C$50.27. The stock has a market capitalization of C$3.68 billion, a price-to-earnings ratio of 10.54 and a beta of 0.40. The company has a debt-to-equity ratio of 6.56, a quick ratio of 6.49 and a current ratio of 9.96.

Altius Minerals (TSE:ALS - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.11 EPS for the quarter. Altius Minerals had a net margin of 543.91% and a return on equity of 32.43%. The company had revenue of C$22.17 million for the quarter. Analysts forecast that Altius Minerals Co. will post 0.3509869 earnings per share for the current fiscal year.

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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