ATB Cormark Capital Markets Issues Positive Forecast for Altius Minerals (TSE:ALS) Stock Price

Key Points

• ATB Cormark raised its price target on Altius Minerals to C$79.00 from C$68.00, implying about 21% upside from the prior close.
• Other analysts have also been adjusting their views, but the overall consensus remains “Hold” with an average price target of C$61.75.
• Altius Minerals shares were up 5.4% to C$65.21, near their 52-week high, while the company also reported recent quarterly EPS of C$0.11 and saw an insider purchase by Stephanie Hussey.

Altius Minerals (TSE:ALS - Get Free Report) had its price target lifted by equities researchers at ATB Cormark Capital Markets from C$68.00 to C$79.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. ATB Cormark Capital Markets' price objective would suggest a potential upside of 21.15% from the company's previous close.

Several other analysts have also recently issued reports on ALS. BMO Capital Markets increased their target price on Altius Minerals from C$44.00 to C$49.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Raymond James Financial boosted their price target on Altius Minerals from C$64.00 to C$66.00 in a research report on Monday. TD cut Altius Minerals from a "buy" rating to a "hold" rating and upped their price objective for the stock from C$52.00 to C$54.00 in a research note on Friday, April 10th. TD Securities downgraded Altius Minerals from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 10th. Finally, National Bank Financial boosted their target price on shares of Altius Minerals from C$57.50 to C$62.50 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Altius Minerals has an average rating of "Hold" and a consensus price target of C$61.75.

Altius Minerals Trading Up 5.4%

Altius Minerals stock traded up C$3.35 during mid-day trading on Tuesday, hitting C$65.21. The company's stock had a trading volume of 155,635 shares, compared to its average volume of 233,409. 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 company has a 50 day moving average of C$57.75 and a 200-day moving average of C$50.27. Altius Minerals has a one year low of C$27.08 and a one year high of C$65.92. The stock has a market cap of C$3.64 billion, a PE ratio of 10.42 and a beta of 0.40.

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

Insiders Place Their Bets

In other Altius Minerals news, insider Stephanie Hussey bought 1,700 shares of Altius Minerals stock in a transaction that occurred on 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 completion of the acquisition, the insider directly owned 18,521 shares in the company, valued at approximately C$943,830.16. This trade represents a 10.11% increase in their position. 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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