Altius Minerals (TSE:ALS) Hits New 1-Year High – Here’s Why

Altius Minerals Co. (TSE:ALS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$47.57 and last traded at C$47.56, with a volume of 168716 shares. The stock had previously closed at C$46.00.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ALS shares. Scotiabank cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. BMO Capital Markets increased their price objective on Altius Minerals from C$34.00 to C$35.00 in a research note on Wednesday, November 12th. Canaccord Genuity Group lifted their target price on shares of Altius Minerals from C$38.00 to C$40.00 in a research note on Friday, October 17th. Raymond James Financial cut shares of Altius Minerals from an “outperform” rating to a “market perform” rating and upped their price objective for the company from C$9.00 to C$9.50 in a research note on Tuesday, December 30th. Finally, TD Securities boosted their price objective on Altius Minerals from C$34.00 to C$39.00 in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Altius Minerals has a consensus rating of “Moderate Buy” and an average price target of C$35.42.

Altius Minerals Stock Performance

The company has a debt-to-equity ratio of 19.48, a current ratio of 8.36 and a quick ratio of 6.49. The firm has a market capitalization of C$2.13 billion, a price-to-earnings ratio of 6.02 and a beta of 0.20. The firm has a 50 day moving average price of C$41.92 and a 200-day moving average price of C$35.77.

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.