Altius Minerals (TSE:ALS) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised Altius Minerals’ price target to C$75 from C$70 and maintained an “outperform” rating, implying 19.27% potential upside. However, the broader analyst consensus remains “Hold,” with an average target of C$63.62.
• Altius shares traded down 0.4% at C$62.88, near their 52-week high of C$66.05. The company reported quarterly EPS of C$0.14 on revenue of C$23.15 million.
• Insider Stephanie Hussey bought 1,700 shares for approximately C$86,632, while insiders collectively own about 19% of the company.

Altius Minerals (TSE:ALS - Get Free Report) had its price target lifted by investment analysts at National Bank Financial from C$70.00 to C$75.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price indicates a potential upside of 19.27% from the stock's current price.

A number of other analysts have also issued reports on the company. BMO Capital Markets boosted their price target on Altius Minerals from C$44.00 to C$49.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets raised their price objective on Altius Minerals from C$68.00 to C$79.00 in a report on Tuesday, July 14th. TD set a C$60.00 target price on Altius Minerals and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Scotiabank upgraded Altius Minerals to a "hold" rating in a report on Thursday, July 23rd. Finally, Canaccord Genuity Group increased their price target on Altius Minerals from C$60.00 to C$70.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Altius Minerals has an average rating of "Hold" and an average price target of C$63.62.

Altius Minerals Trading Down 0.4%

ALS stock traded down C$0.27 during trading on Wednesday, hitting C$62.88. The company had a trading volume of 66,451 shares, compared to its average volume of 248,900. Altius Minerals has a 52-week low of C$28.63 and a 52-week high of C$66.05. The company has a 50 day simple moving average of C$59.90 and a 200-day simple moving average of C$52.67. The firm has a market capitalization of C$3.69 billion, a P/E ratio of 10.04 and a beta of 0.40. The company has a quick ratio of 6.49, a current ratio of 9.96 and a debt-to-equity ratio of 6.56.

Altius Minerals (TSE:ALS - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported C$0.14 EPS for the quarter. The business had revenue of C$23.15 million for the quarter. Altius Minerals had a net margin of 543.91% and a return on equity of 32.43%. As a group, research analysts forecast that Altius Minerals will post 0.3509869 earnings per share for the current fiscal year.

Insider Buying and Selling at Altius Minerals

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