Altius Minerals (TSE:ALS) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Altius Minerals shares crossed above their 50-day moving average of C$64.51, reaching as high as C$64.97 before last trading at C$63.18.
• Analyst sentiment remains generally cautious: two analysts rate the stock a Buy and four rate it a Hold, producing a consensus Hold rating and a C$64.00 price target. Several firms recently raised their targets, including ATB Cormark to C$79.00.
• The company reported quarterly EPS of C$0.14 on revenue of C$23.15 million, with a 462.21% net margin and 27.08% return on equity. Altius focuses on a diversified portfolio of royalty assets tied to long-term global growth trends.

Altius Minerals Co. (TSE:ALS - Get Free Report)'s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of C$64.51 and traded as high as C$64.97. Altius Minerals shares last traded at C$63.18, with a volume of 94,846 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALS. ATB Cormark Capital Markets increased their price objective on shares of Altius Minerals from C$68.00 to C$79.00 in a research report on Tuesday, July 14th. Raymond James Financial raised their price target on Altius Minerals from C$66.00 to C$69.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Canaccord Genuity Group upped their price objective on Altius Minerals from C$60.00 to C$70.00 in a research report on Tuesday, August 11th. Scotiabank upgraded Altius Minerals to a "hold" rating in a research note on Thursday, July 23rd. Finally, TD set a C$60.00 target price on shares of Altius Minerals and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$64.00.

Altius Minerals Trading Down 2.8%

The stock's 50 day moving average is C$64.51 and its two-hundred day moving average is C$58.61. The company has a market capitalization of C$3.71 billion, a PE ratio of 10.03 and a beta of 0.47. The company has a quick ratio of 6.49, a current ratio of 13.49 and a debt-to-equity ratio of 6.47.

Altius Minerals (TSE:ALS - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported C$0.14 EPS for the quarter. Altius Minerals had a net margin of 462.21% and a return on equity of 27.08%. The business had revenue of C$23.15 million for the quarter. As a group, sell-side analysts predict that Altius Minerals Co. will post 0.3509869 EPS for the current fiscal year.

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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