Altius Minerals (TSE:ALS) Reaches New 12-Month High – Time to Buy?

Altius Minerals Co. (TSE:ALS)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$46.33 and last traded at C$46.00, with a volume of 13556 shares trading hands. The stock had previously closed at C$45.96.

Analysts Set New Price Targets

ALS has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Altius Minerals from C$34.00 to C$35.00 in a research report on Wednesday, November 12th. Scotiabank lowered Altius Minerals from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. TD Securities increased their target price on Altius Minerals from C$34.00 to C$39.00 in a report on Tuesday, October 21st. Raymond James Financial lowered shares of Altius Minerals from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 30th. Finally, Canaccord Genuity Group boosted their price objective on Altius Minerals from C$38.00 to C$40.00 in a report on Friday, October 17th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Altius Minerals has an average rating of “Moderate Buy” and a consensus price target of C$32.75.

Altius Minerals Stock Down 3.4%

The stock has a 50 day moving average price of C$41.21 and a 200 day moving average price of C$35.03. The company has a debt-to-equity ratio of 19.48, a quick ratio of 6.49 and a current ratio of 8.36. The company has a market capitalization of C$2.10 billion, a P/E ratio of 5.94 and a beta of 0.20.

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.