Altius Minerals (TSE:ALS) Reaches New 52-Week High – Here’s What Happened

Altius Minerals Co. (TSE:ALS)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$53.94 and last traded at C$53.87, with a volume of 11639 shares. The stock had previously closed at C$50.99.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Scotiabank raised shares of Altius Minerals to a “hold” rating in a research report on Thursday, March 12th. TD Securities downgraded shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. National Bank Financial upped their price objective on shares of Altius Minerals from C$55.00 to C$57.50 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. TD cut shares of Altius Minerals from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$52.00 to C$54.00 in a research report on Friday, April 10th. Finally, Canaccord Genuity Group lifted their target price on shares of Altius Minerals from C$47.00 to C$51.00 in a report on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Altius Minerals presently has an average rating of “Hold” and a consensus target price of C$48.36.

Altius Minerals Stock Up 1.3%

The company has a market capitalization of C$2.97 billion, a PE ratio of 8.41 and a beta of 0.36. The company has a current ratio of 15.11, a quick ratio of 6.49 and a debt-to-equity ratio of 9.98. The business has a fifty day moving average of C$48.48 and a 200 day moving average of C$43.90.

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

Insider Buying and Selling at Altius Minerals

In other Altius Minerals news, Director Andr� Gaumond purchased 1,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was bought at an average price of C$41.69 per share, with a total value of C$41,690.00. Following the transaction, the director directly owned 78,351 shares of the company’s stock, valued at approximately C$3,266,453.19. This represents a 1.29% increase in their position. Also, Director Brian Dalton purchased 2,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of C$43.66 per share, with a total value of C$87,320.00. Following the purchase, the director owned 828,356 shares of the company’s stock, valued at approximately C$36,166,022.96. This represents a 0.24% increase in their ownership of the stock. Insiders acquired 5,600 shares of company stock valued at $235,322 in the last 90 days. Company 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.