Altius Minerals (TSE:ALS) Sets New 52-Week High – Still a Buy?

Altius Minerals Co. (TSE:ALS)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$65.89 and last traded at C$67.63, with a volume of 73193 shares traded. The stock had previously closed at C$65.58.

Wall Street Analyst Weigh In

ALS has been the topic of several research analyst reports. Raymond James Financial lifted their price objective on Altius Minerals from C$66.00 to C$69.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Canaccord Genuity Group increased their target price on shares of Altius Minerals from C$60.00 to C$70.00 in a research report on Tuesday, August 11th. BMO Capital Markets raised their price target on shares of Altius Minerals from C$44.00 to C$49.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets boosted their price objective on shares of Altius Minerals from C$68.00 to C$79.00 in a research note on Tuesday, July 14th. Finally, National Bank Financial increased their price objective on shares of Altius Minerals from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Altius Minerals presently has a consensus rating of “Hold” and a consensus target price of C$64.00.

Altius Minerals Price Performance

The company has a debt-to-equity ratio of 6.47, a current ratio of 13.49 and a quick ratio of 6.49. The company has a market cap of C$3.93 billion, a PE ratio of 10.62 and a beta of 0.49. The company has a 50-day moving average price of C$61.89 and a two-hundred day moving average price of C$55.40.

Altius Minerals (TSE:ALS) last announced its 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 for the quarter. Altius Minerals had a return on equity of 27.08% and a net margin of 462.21%. Sell-side analysts expect that Altius Minerals Co. will post 0.3509869 earnings per share 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.