Scotiabank Issues Positive Forecast for Altius Minerals (TSE:ALS) Stock Price

Altius Minerals (TSE:ALS) had its target price upped by investment analysts at Scotiabank from C$57.00 to C$58.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential downside of 3.03% from the company’s current price.

ALS has been the topic of a number of other reports. Raymond James Financial raised their price target on shares of Altius Minerals from C$52.00 to C$59.00 in a research report on Thursday, May 14th. TD Securities downgraded shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. 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 research note on Wednesday, May 13th. Canaccord Genuity Group boosted their price target on shares of Altius Minerals from C$51.00 to C$60.00 in a research report on Tuesday, May 12th. Finally, National Bank Financial lifted their price objective on shares of Altius Minerals from C$57.50 to C$62.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Altius Minerals presently has an average rating of “Hold” and a consensus target price of C$56.36.

Altius Minerals Trading Up 2.7%

TSE:ALS traded up C$1.58 during trading hours on Monday, hitting C$59.81. The stock had a trading volume of 115,517 shares, compared to its average volume of 207,369. The company has a market cap of C$3.33 billion, a price-to-earnings ratio of 9.55 and a beta of 0.39. Altius Minerals has a one year low of C$26.59 and a one year high of C$61.12. 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’s 50 day moving average is C$53.46 and its 200-day moving average is 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 for the quarter. Altius Minerals had a net margin of 543.91% and a return on equity of 32.43%. The company had revenue of C$22.17 million during the quarter. Sell-side analysts anticipate that Altius Minerals will post 0.3509869 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Andr� Gaumond purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of C$41.69 per share, for a total transaction of C$41,690.00. Following the completion of the transaction, the director directly owned 78,351 shares in the company, valued at approximately C$3,266,453.19. This represents a 1.29% increase in their position. Also, Director Brian Dalton acquired 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of C$41.32 per share, for a total transaction of C$66,112.00. Following the completion of the transaction, the director owned 829,956 shares of the company’s stock, valued at C$34,293,781.92. The trade was a 0.19% increase in their position. In the last ninety days, insiders have bought 7,620 shares of company stock valued at $338,274. Corporate insiders own 19.00% of the company’s stock.

Altius Minerals Company Profile

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.