Altius Minerals (TSE:ALS) Upgraded to "Hold" at Scotiabank

Key Points

• Scotiabank upgraded Altius Minerals to a “hold” rating, adding to a mixed analyst picture for the stock.
• Other recent brokerage moves include higher price targets from National Bank Financial, Canaccord Genuity, Raymond James, and BMO Capital Markets, while TD Securities cut its rating to hold. Overall, the stock now has an average Hold rating and a consensus price target of C$61.75.
• Altius Minerals was trading around C$58.45, near its 50-day average, with a market cap of about C$3.26 billion. The company also reported quarterly EPS of C$0.11 and noted insider buying by Stephanie Hussey.

Altius Minerals (TSE:ALS - Get Free Report) was upgraded by equities researchers at Scotiabank to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on ALS. National Bank Financial raised their target price on Altius Minerals from C$62.50 to C$70.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 14th. Canaccord Genuity Group boosted their price target on shares of Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday, May 12th. Raymond James Financial increased their price objective on shares of Altius Minerals from C$64.00 to C$66.00 in a research note on Monday, July 13th. BMO Capital Markets raised their price objective on shares of Altius Minerals from C$44.00 to C$49.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Finally, TD Securities lowered shares of Altius Minerals from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$61.75.

Altius Minerals Stock Down 0.0%

TSE ALS opened at C$58.45 on Thursday. The firm has a 50-day simple moving average of C$58.43 and a 200 day simple moving average of C$51.28. The company has a debt-to-equity ratio of 6.56, a quick ratio of 6.49 and a current ratio of 9.96. The stock has a market cap of C$3.26 billion, a PE ratio of 9.34 and a beta of 0.40. Altius Minerals has a twelve month low of C$28.33 and a twelve month high of C$66.05.

Altius Minerals (TSE:ALS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.11 EPS for the quarter. Altius Minerals had a return on equity of 32.43% and a net margin of 543.91%.The company had revenue of C$22.17 million during the quarter. On average, research analysts forecast that Altius Minerals will post 0.3509869 EPS for the current year.

Insider Activity at Altius Minerals

In related news, insider Stephanie Hussey purchased 1,700 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of C$50.96 per share, with a total value of C$86,632.00. Following the purchase, the insider directly owned 18,521 shares in the company, valued at C$943,830.16. This represents a 10.11% increase in their ownership of the stock. 19.00% of the stock is owned by company insiders.

About Altius Minerals

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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