Raymond James Financial Forecasts Strong Price Appreciation for Altius Minerals (TSE:ALS) Stock

Altius Minerals (TSE:ALS) had its price target lifted by equities research analysts at Raymond James Financial from C$52.00 to C$59.00 in a note issued to investors on Thursday,BayStreet.CA reports. Raymond James Financial’s target price would indicate a potential upside of 11.66% from the company’s current price.

Several other research firms have also recently weighed in on ALS. TD Securities cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Canaccord Genuity Group upped their price objective on Altius Minerals from C$51.00 to C$60.00 in a research report on Tuesday. National Bank Financial increased their price target on Altius Minerals from C$57.50 to C$62.50 and gave the stock an “outperform” rating in a report on Wednesday. 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. Finally, Scotiabank raised Altius Minerals to a “hold” rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Altius Minerals currently has a consensus rating of “Hold” and a consensus target price of C$53.36.

Altius Minerals Stock Performance

TSE:ALS opened at C$52.84 on Thursday. Altius Minerals has a twelve month low of C$26.13 and a twelve month high of C$57.24. The company has a quick ratio of 6.49, a current ratio of 9.96 and a debt-to-equity ratio of 6.56. The stock’s 50-day simple moving average is C$49.34 and its 200 day simple moving average is C$44.65. The firm has a market capitalization of C$2.95 billion, a PE ratio of 8.44 and a beta of 0.36.

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

Insider Activity

In other news, insider Mark Raguz bought 1,000 shares of Altius Minerals stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of C$40.20 per share, with a total value of C$40,200.00. Following the purchase, the insider directly owned 21,253 shares of the company’s stock, valued at approximately C$854,370.60. This trade represents a 4.94% increase in their position. Also, Director Brian Dalton bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of C$43.66 per share, for a total transaction of C$87,320.00. Following the completion of the acquisition, the director directly owned 828,356 shares in the company, valued at approximately C$36,166,022.96. This represents a 0.24% increase in their ownership of the stock. In the last three months, insiders acquired 5,600 shares of company stock valued at $235,322. Company insiders own 19.00% of the company’s stock.

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.