Altius Minerals (TSE:ALS) Rating Lowered to Market Perform at Raymond James Financial

Altius Minerals (TSE:ALS) was downgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$9.50 price objective on the stock, up from their previous price objective of C$9.00. Raymond James Financial’s target price indicates a potential downside of 76.09% from the company’s previous close.

Several other brokerages have also issued reports on ALS. BMO Capital Markets boosted their price objective on shares of Altius Minerals from C$34.00 to C$35.00 in a report on Wednesday, November 12th. Canaccord Genuity Group increased their price objective on shares of Altius Minerals from C$38.00 to C$40.00 in a research report on Friday, October 17th. TD Securities boosted their target price on Altius Minerals from C$34.00 to C$39.00 in a research report on Tuesday, October 21st. Finally, Scotiabank cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Altius Minerals currently has an average rating of “Moderate Buy” and a consensus target price of C$32.75.

Altius Minerals Trading Down 2.0%

TSE:ALS traded down C$0.80 on Wednesday, hitting C$39.74. The stock had a trading volume of 69,209 shares, compared to its average volume of 97,682. The company has a fifty day moving average price of C$38.60 and a two-hundred day moving average price of C$32.71. Altius Minerals has a 1-year low of C$22.27 and a 1-year high of C$44.44. The company has a quick ratio of 6.49, a current ratio of 8.36 and a debt-to-equity ratio of 19.48. The stock has a market cap of C$1.84 billion, a price-to-earnings ratio of 5.19 and a beta of 0.18.

About Altius Minerals

Altius Minerals Corp is engaged in the business of obtaining diversified mining royalty. It holds interests in mining operations that produce metals and minerals such as copper, zinc, nickel, cobalt, gold, silver, and potash. The corporation also holds other pre-development stage royalty interests and various earlier stage royalties. It is engaged in the operating segments of MineralRoyalties, Renewable Royalties and Project Generation.