Altius Minerals (TSE:ALS) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Altius Minerals Co. (TSE:ALS) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$45.13 and traded as high as C$45.95. Altius Minerals shares last traded at C$44.99, with a volume of 234,269 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Scotiabank raised shares of Altius Minerals to a “hold” rating in a research note on Thursday, March 12th. TD Securities upped their target price on shares of Altius Minerals from C$39.00 to C$52.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. National Bank Financial lifted their price target on Altius Minerals from C$45.50 to C$52.00 in a research note on Thursday, January 29th. Canaccord Genuity Group boosted their price target on Altius Minerals from C$47.00 to C$51.00 in a report on Monday, March 16th. Finally, Raymond James Financial increased their price objective on Altius Minerals from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Altius Minerals currently has an average rating of “Moderate Buy” and an average price target of C$45.83.

Altius Minerals Stock Performance

The firm has a market capitalization of C$2.62 billion, a price-to-earnings ratio of 7.38 and a beta of 0.33. The company has a quick ratio of 6.49, a current ratio of 15.11 and a debt-to-equity ratio of 9.98. The stock’s fifty day moving average is C$45.16 and its two-hundred day moving average is C$40.27.

Altius Minerals (TSE:ALS) last released its quarterly earnings data on Tuesday, March 10th. The company reported C$0.24 earnings per share for the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. The company had revenue of C$14.06 million for the quarter. On average, analysts predict that Altius Minerals Co. will post 0.3509869 earnings per share for the current year.

Insiders Place Their Bets

In other Altius Minerals news, insider Flora Emily Mackay Wood acquired 1,000 shares of the company’s stock in a transaction on Friday, January 30th. The shares were purchased at an average price of C$43.15 per share, for a total transaction of C$43,150.00. Following the completion of the purchase, the insider directly owned 13,370 shares of the company’s stock, valued at approximately C$576,915.50. This represents a 8.08% increase in their ownership of the stock. Also, insider Mark Raguz acquired 1,160 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was acquired at an average cost of C$43.01 per share, with a total value of C$49,891.60. Following the completion of the transaction, the insider owned 20,253 shares of the company’s stock, valued at approximately C$871,081.53. The trade was a 6.08% increase in their ownership of the stock. Insiders have acquired a total of 5,160 shares of company stock valued at $220,562 over the last 90 days. 19.00% of the stock is currently owned by insiders.

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.