Altius Minerals (TSE:ALS) Stock Price Down 14% – Here’s Why

Altius Minerals Co. (TSE:ALS)’s share price fell 14% during mid-day trading on Wednesday . The company traded as low as C$55.83 and last traded at C$56.80. 883,434 shares traded hands during mid-day trading, an increase of 270% from the average session volume of 239,030 shares. The stock had previously closed at C$66.04.

Analyst Ratings Changes

ALS has been the topic of a number of recent analyst reports. Scotiabank increased their price target on shares of Altius Minerals from C$57.00 to C$58.00 and gave the stock a “sector perform” rating in a research note on Monday, June 15th. 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. TD upped their price objective on Altius Minerals from C$55.00 to C$60.00 and gave the stock a “hold” rating in a report on Tuesday. Raymond James Financial increased their target price on Altius Minerals from C$64.00 to C$66.00 in a research report on Monday. Finally, Canaccord Genuity Group lifted their target price on Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$61.75.

Altius Minerals Stock Performance

The stock’s 50-day moving average is C$58.06 and its 200-day moving average is C$50.45. The stock has a market cap of C$3.21 billion, a price-to-earnings ratio of 9.20 and a beta of 0.40. The company has a current ratio of 9.96, a quick ratio of 6.49 and a debt-to-equity ratio of 6.56.

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

Insider Activity at Altius Minerals

In other Altius Minerals news, insider Stephanie Hussey bought 1,700 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of C$50.96 per share, with a total value of C$86,632.00. Following the purchase, the insider owned 18,521 shares in the company, valued at approximately C$943,830.16. The trade was a 10.11% increase in their position. Corporate 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.