Altius Minerals (TSE:ALS) Hits New 52-Week High - Time to Buy?

Key Points

• Altius Minerals shares hit a new 52-week high of C$29.71 during trading, reflecting strong performance with a market cap of C$1.35 billion.
• Analysts from Canaccord Genuity and TD Securities have upgraded their price targets for Altius Minerals, now set at C$35.00 and C$34.00 respectively, indicating a buy rating.
• Company insider Mark Raguz purchased 1,400 shares at an average price of C$28.41, demonstrating confidence in the company's future prospects.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as C$29.71 and last traded at C$29.70, with a volume of 14694 shares traded. The stock had previously closed at C$29.41.

Analyst Ratings Changes

Several research firms recently weighed in on ALS. TD Securities boosted 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 report on Monday. Canaccord Genuity Group boosted their price target on shares of Altius Minerals from C$33.00 to C$35.00 in a report on Monday, April 21st.

Altius Minerals Trading Up 0.6%

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 stock has a market capitalization of C$1.35 billion, a PE ratio of 99.03 and a beta of 0.94. The stock's 50 day simple moving average is C$27.43 and its two-hundred day simple moving average is C$26.55.

Insiders Place Their Bets

In related news, Senior Officer Mark Raguz bought 1,400 shares of the company's stock in a transaction on Friday, July 25th. The shares were purchased at an average cost of C$28.41 per share, for a total transaction of C$39,778.20. 19.00% of the stock is currently owned by insiders.

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.