Altius Minerals (TSE:ALS) Price Target Raised to C$69.00

Key Points

• Raymond James raised Altius Minerals’ price target to C$69.00 from C$66.00 while maintaining an “outperform” rating, implying 2.28% potential upside.
• Analyst sentiment is mixed: two analysts rate the stock a Buy and four rate it a Hold, producing a consensus “Hold” rating and average price target of C$64.00.
• Altius shares traded at C$67.46, near their one-year high of C$67.70. The company reported quarterly EPS of C$0.14 on revenue of C$23.15 million.

Altius Minerals (TSE:ALS - Get Free Report) had its price target raised by equities research analysts at Raymond James Financial from C$66.00 to C$69.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price target would indicate a potential upside of 2.28% from the company's current price.

ALS has been the topic of several other research reports. Canaccord Genuity Group raised their price target on shares of Altius Minerals from C$60.00 to C$70.00 in a research note on Tuesday, August 11th. Scotiabank raised Altius Minerals to a "hold" rating in a report on Thursday, July 23rd. ATB Cormark Capital Markets lifted their target price on Altius Minerals from C$68.00 to C$79.00 in a research note on Tuesday, July 14th. TD set a C$60.00 price objective on shares of Altius Minerals and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Finally, BMO Capital Markets increased their price target 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of C$64.00.

Altius Minerals Stock Performance

ALS stock traded up C$1.26 during mid-day trading on Thursday, reaching C$67.46. The company had a trading volume of 55,584 shares, compared to its average volume of 246,193. Altius Minerals has a one year low of C$28.95 and a one year high of C$67.70. The stock has a market capitalization of C$3.96 billion, a P/E ratio of 10.71 and a beta of 0.40. The company has a quick ratio of 6.49, a current ratio of 13.49 and a debt-to-equity ratio of 6.47. The stock's 50-day simple moving average is C$61.21 and its two-hundred day simple moving average is C$54.11.

Altius Minerals (TSE:ALS - Get Free Report) last released its quarterly 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 during the quarter. Altius Minerals had a net margin of 462.21% and a return on equity of 27.08%. Research analysts anticipate that Altius Minerals will post 0.3509869 EPS for the current year.

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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