Altius Minerals (TSE:ALS) Reaches New 1-Year High – Here’s Why

Shares of Altius Minerals Co. (TSE:ALS) reached a new 52-week high during trading on Monday . The stock traded as high as C$62.58 and last traded at C$62.39, with a volume of 69419 shares changing hands. The stock had previously closed at C$61.22.

Wall Street Analyst Weigh In

ALS has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Altius Minerals from C$51.00 to C$60.00 in a research report on Tuesday, May 12th. National Bank Financial raised their target price on Altius Minerals from C$57.50 to C$62.50 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. TD Securities lowered Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. TD lowered shares of Altius Minerals from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$52.00 to C$54.00 in a report on Friday, April 10th. Finally, Raymond James Financial upped their price objective on shares of Altius Minerals from C$52.00 to C$59.00 in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$56.36.

Altius Minerals Stock Performance

The company has a market cap of C$3.54 billion, a PE ratio of 10.15 and a beta of 0.39. 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 firm’s 50 day moving average is C$55.56 and its 200-day moving average is C$48.81.

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

Insider Buying and Selling at Altius Minerals

In related news, insider Stephanie Hussey acquired 1,700 shares of Altius Minerals stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of C$50.96 per share, for a total transaction of C$86,632.00. Following the completion of 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 ownership of the stock. 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.