Altius Minerals (TSE:ALS) Hits New 1-Year High – What’s Next?

Altius Minerals Co. (TSE:ALS)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$61.12 and last traded at C$60.43, with a volume of 16316 shares trading hands. The stock had previously closed at C$58.23.

Analysts Set New Price Targets

ALS has been the subject of a number of research analyst reports. BMO Capital Markets boosted 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. TD lowered Altius Minerals from a “buy” rating to a “hold” rating and boosted their target price for the company from C$52.00 to C$54.00 in a research report on Friday, April 10th. Scotiabank raised Altius Minerals to a “hold” rating in a research report on Thursday, March 12th. Canaccord Genuity Group boosted their target price on Altius Minerals from C$51.00 to C$60.00 in a research report on Tuesday, May 12th. Finally, National Bank Financial boosted their target price on Altius Minerals from C$57.50 to C$62.50 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$53.36.

Altius Minerals Price Performance

The firm has a market cap of C$3.37 billion, a price-to-earnings ratio of 9.67 and a beta of 0.39. 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 business has a 50 day simple moving average of C$53.46 and a 200-day simple moving average of C$47.03.

Altius Minerals (TSE:ALS) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.11 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts expect that Altius Minerals Co. will post 0.3509869 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Raguz purchased 1,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was acquired at an average price of C$40.20 per share, for a total transaction of C$40,200.00. Following the purchase, the insider 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 ownership of the stock. Also, insider Stephanie Hussey purchased 1,700 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought 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 approximately C$943,830.16. The trade was a 10.11% increase in their position. Insiders have acquired a total of 7,620 shares of company stock worth $338,274 over the last 90 days. 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.