Altius Minerals (TSE:ALS) Reaches New 12-Month High – Here’s What Happened

Altius Minerals Co. (TSE:ALS) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$49.92 and last traded at C$49.73, with a volume of 7260 shares traded. The stock had previously closed at C$46.79.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALS. Scotiabank raised shares of Altius Minerals to a “hold” rating in a research note on Thursday, March 12th. Raymond James Financial boosted their price target on shares of Altius Minerals from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Canaccord Genuity Group increased their price target on shares of Altius Minerals from C$47.00 to C$51.00 in a report on Monday, March 16th. National Bank Financial raised their price objective on shares of Altius Minerals from C$45.50 to C$52.00 in a research report on Thursday, January 29th. Finally, TD Securities lifted their price objective on shares of Altius Minerals from C$39.00 to C$52.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$45.83.

Altius Minerals Trading Up 2.1%

The company has a market capitalization of C$2.79 billion, a PE ratio of 7.88 and a beta of 0.33. 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 stock has a fifty day moving average of C$45.23 and a two-hundred day moving average of C$40.65.

Altius Minerals (TSE:ALS) last issued its earnings results 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 business had revenue of C$14.06 million during the quarter. As a group, sell-side analysts anticipate that Altius Minerals Co. will post 0.3509869 earnings per share for the current fiscal year.

Insider Transactions at Altius Minerals

In other Altius Minerals news, Director Brian Dalton acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was bought 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 trade represents a 0.24% increase in their ownership of the stock. Also, insider Mark Raguz bought 1,000 shares of Altius Minerals stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of C$40.20 per share, for a total transaction of C$40,200.00. Following the acquisition, the insider owned 21,253 shares in the company, valued at C$854,370.60. The trade was a 4.94% increase in their position. In the last ninety days, insiders acquired 5,160 shares of company stock worth $220,562. 19.00% of the stock is currently owned by insiders.

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.