Altius Minerals (TSE:ALS) Share Price Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• Altius Minerals' share price recently crossed above its 50-day moving average, trading as high as C$30.55, with a last price of C$29.31.
• The company announced an increase in its quarterly dividend from $0.09 to $0.10, representing an annual yield of 1.4%.
• TD Securities and Canaccord Genuity have raised their price targets for Altius Minerals to C$34.00 and C$35.00, respectively, both maintaining a "buy" rating.

Altius Minerals Co. (TSE:ALS - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$27.86 and traded as high as C$30.55. Altius Minerals shares last traded at C$29.31, with a volume of 223,566 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALS shares. TD Securities raised their price objective on Altius Minerals from C$32.00 to C$34.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Canaccord Genuity Group raised their price objective on Altius Minerals from C$33.00 to C$35.00 in a research note on Monday, April 21st. Finally, National Bankshares raised their price objective on Altius Minerals from C$35.00 to C$36.00 and gave the stock an "outperform" rating in a research note on Wednesday.

Altius Minerals Trading Up 0.4%

The firm has a market cap of C$1.34 billion, a price-to-earnings ratio of 97.78 and a beta of 0.94. The company has a 50-day moving average price of C$27.97 and a 200 day moving average price of C$26.64. The company has a quick ratio of 6.49, a current ratio of 8.36 and a debt-to-equity ratio of 19.48.

Altius Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. This is a boost from Altius Minerals's previous quarterly dividend of $0.09. Altius Minerals's dividend payout ratio (DPR) is 121.85%.

Insider Buying and Selling at Altius Minerals

In related news, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of Altius Minerals stock in a transaction on Friday, August 1st. The stock was 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 Altius Minerals stock in a transaction that occurred on Friday, July 25th. The shares were purchased at an average cost of C$28.41 per share, with a total value of C$39,778.20. Company 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.