Altius Minerals (TSE:ALS) Share Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Altius Minerals' share price has crossed above its fifty-day moving average of C$31.12, reaching as high as C$33.95 before last trading at C$33.50.
• Analysts have updated their price targets for Altius Minerals, with National Bankshares raising their objective to C$36.00 and Raymond James increasing theirs to C$37.00, reflecting a generally positive outlook.
• The company has increased its quarterly dividend from $0.09 to $0.10 per share, representing a 1.2% dividend yield and a payout ratio of 17.31%.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$31.12 and traded as high as C$33.95. Altius Minerals shares last traded at C$33.50, with a volume of 80,841 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on ALS shares. National Bankshares lifted 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 report on Wednesday, August 13th. Raymond James Financial lifted their price objective on shares of Altius Minerals from C$36.00 to C$37.00 in a report on Friday, October 10th. Finally, TD Securities lifted 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 report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Altius Minerals has an average rating of "Buy" and an average price target of C$33.17.

Altius Minerals Trading Up 0.3%

The company has a market cap of C$1.55 billion, a price-to-earnings ratio of 16.11 and a beta of 0.26. 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's fifty day moving average price is C$31.12 and its 200-day moving average price is C$28.20.

Altius Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.10 per share. This is a boost 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 1.2%. Altius Minerals's payout ratio is currently 17.31%.

Insider Transactions at Altius Minerals

In related news, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of Altius Minerals stock in a transaction dated 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 business's stock in a transaction that occurred on Friday, July 25th. The shares were bought at an average price of C$28.41 per share, for a total transaction of C$39,778.20. 19.00% of the stock is owned by 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.

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