Altius Minerals (TSE:ALS) Reaches New 12-Month High – What’s Next?

Altius Minerals Co. (TSE:ALS)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$47.57 and last traded at C$47.56, with a volume of 168716 shares. The stock had previously closed at C$46.00.

Analyst Ratings Changes

ALS has been the topic of several analyst reports. TD Securities upped their target price on Altius Minerals from C$34.00 to C$39.00 in a report on Tuesday, October 21st. Scotiabank cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Raymond James Financial cut shares of Altius Minerals from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 30th. BMO Capital Markets boosted their target price on shares of Altius Minerals from C$34.00 to C$35.00 in a report on Wednesday, November 12th. Finally, Canaccord Genuity Group raised their target price on shares of Altius Minerals from C$38.00 to C$40.00 in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$32.75.

Altius Minerals Price Performance

The company has a market capitalization of C$2.21 billion, a P/E ratio of 6.25 and a beta of 0.20. 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 company’s fifty day moving average price is C$41.46 and its 200 day moving average price is C$35.48.

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.