Canaccord Genuity Group Increases Altius Minerals (TSE:ALS) Price Target to C$60.00

Altius Minerals (TSE:ALS) had its target price upped by analysts at Canaccord Genuity Group from C$51.00 to C$60.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 5.36% from the company’s current price.

A number of other equities research analysts have also commented on the company. Scotiabank upgraded Altius Minerals to a “hold” rating in a research report on Thursday, March 12th. Raymond James Financial raised their price objective on Altius Minerals from C$48.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. National Bank Financial raised their price objective on Altius Minerals from C$55.00 to C$57.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. TD Securities lowered Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Finally, TD lowered Altius Minerals from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$52.00 to C$54.00 in a research report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Altius Minerals has a consensus rating of “Hold” and an average target price of C$49.64.

Altius Minerals Trading Up 3.4%

Shares of TSE ALS traded up C$1.85 during mid-day trading on Tuesday, hitting C$56.95. 201,237 shares of the company traded hands, compared to its average volume of 188,589. Altius Minerals has a 1 year low of C$25.92 and a 1 year high of C$57.12. The stock has a market capitalization of C$3.17 billion, a price-to-earnings ratio of 8.98 and a beta of 0.36. 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 business has a 50 day moving average of C$48.74 and a two-hundred day moving average of C$44.16.

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

Insider Transactions at Altius Minerals

In other news, Director Andr� Gaumond purchased 1,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of C$41.69 per share, with a total value of C$41,690.00. Following the purchase, the director directly owned 78,351 shares of the company’s stock, valued at approximately C$3,266,453.19. This trade represents a 1.29% increase in their ownership of the stock. Also, insider Mark Raguz purchased 1,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of C$40.20 per share, with a total value of C$40,200.00. Following the completion of the purchase, the insider directly owned 21,253 shares in the company, valued at approximately C$854,370.60. This represents a 4.94% increase in their ownership of the stock. Insiders bought 5,600 shares of company stock valued at $235,322 in the last three months. 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.