Altius Minerals (TSE:ALS) Stock Price Down 14% - Time to Sell?

Key Points

• Altius Minerals shares fell 14% on Wednesday, dropping from a prior close of C$66.04 to as low as C$55.83, with trading volume surging to more than three times the daily average.
• Despite the sharp selloff, analyst sentiment remains mixed but not bearish: the consensus rating is “Hold,” with a consensus price target of C$61.75 after several firms raised their targets.
• The company recently reported solid quarterly profitability, posting C$0.11 EPS on C$22.17 million in revenue, while an insider also bought shares, signaling some confidence from within the company.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s stock price traded down 14% during trading on Wednesday . The company traded as low as C$55.83 and last traded at C$56.80. Approximately 883,434 shares traded hands during trading, an increase of 270% from the average daily volume of 239,030 shares. The stock had previously closed at C$66.04.

Wall Street Analysts Forecast Growth

ALS has been the subject of a number of analyst reports. TD Securities cut Altius Minerals from a "strong-buy" rating to a "hold" rating in a report on Friday, April 10th. BMO Capital Markets increased their price objective on Altius Minerals from C$44.00 to C$49.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. National Bank Financial lifted their price objective on Altius Minerals from C$62.50 to C$70.00 and gave the stock an "outperform" rating in a research report on Tuesday. TD boosted their target price on shares of Altius Minerals from C$55.00 to C$60.00 and gave the company a "hold" rating in a research note on Tuesday. Finally, Canaccord Genuity Group boosted their target price on shares of Altius Minerals from C$51.00 to C$60.00 in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$61.75.

Altius Minerals Price Performance

The company has a market capitalization of C$3.21 billion, a price-to-earnings ratio of 9.20 and a beta of 0.40. The company has a fifty day simple moving average of C$58.06 and a two-hundred day simple moving average of C$50.45. 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 posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.11 earnings per share (EPS) for the quarter. The business had revenue of C$22.17 million for the quarter. Altius Minerals had a return on equity of 32.43% and a net margin of 543.91%. As a group, research analysts anticipate that Altius Minerals Co. will post 0.3509869 earnings per share for the current year.

Insiders Place Their Bets

In other Altius Minerals news, insider Stephanie Hussey purchased 1,700 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of C$50.96 per share, with a total value of C$86,632.00. Following the purchase, the insider owned 18,521 shares in the company, valued at approximately C$943,830.16. This represents a 10.11% increase in their ownership of the stock. Company insiders own 19.00% of the company's stock.

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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