Altius Minerals (TSE:ALS) Price Target Raised to C$60.00

Altius Minerals (TSE:ALS) had its price objective raised by investment analysts at TD from C$55.00 to C$60.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s price objective suggests a potential downside of 7.99% from the company’s current price.

Several other analysts have also issued reports on ALS. ATB Cormark Capital Markets upped their target price on Altius Minerals from C$68.00 to C$79.00 in a research note on Tuesday. BMO Capital Markets boosted their price objective on shares of Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. National Bank Financial upped 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. Canaccord Genuity Group upped their price objective on shares of Altius Minerals from C$51.00 to C$60.00 in a research note on Tuesday, May 12th. Finally, Scotiabank increased their target price on shares of Altius Minerals from C$57.00 to C$58.00 and gave the company a “sector perform” rating in a report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$61.75.

Altius Minerals Price Performance

Altius Minerals stock traded up C$3.35 during midday trading on Tuesday, reaching C$65.21. 155,635 shares of the stock were exchanged, compared to its average volume of 233,409. Altius Minerals has a 52 week low of C$27.08 and a 52 week high of C$65.92. 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 has a market cap of C$3.64 billion, a PE ratio of 10.42 and a beta of 0.40. The company’s fifty day moving average is C$57.75 and its 200-day moving average is C$50.27.

Altius Minerals (TSE:ALS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.11 EPS for the quarter. The company had revenue of C$22.17 million during the quarter. Altius Minerals had a return on equity of 32.43% and a net margin of 543.91%. On average, sell-side analysts forecast that Altius Minerals will post 0.3509869 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephanie Hussey bought 1,700 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of C$50.96 per share, with a total value of C$86,632.00. Following the transaction, the insider owned 18,521 shares in the company, valued at approximately C$943,830.16. This trade represents a 10.11% increase in their position. Company 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.