Altius Minerals (TSE:ALS) Rating Lowered to Market Perform at Raymond James Financial

Altius Minerals (TSE:ALS) was downgraded by investment analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report released on Wednesday,BayStreet.CA reports. They presently have a C$9.50 price objective on the stock, up from their previous price objective of C$9.00. Raymond James Financial’s price target points to a potential downside of 76.09% from the stock’s previous close.

Several other research firms also recently commented on ALS. BMO Capital Markets increased their target price on shares of Altius Minerals from C$34.00 to C$35.00 in a report on Wednesday, November 12th. Canaccord Genuity Group increased their price objective on shares of Altius Minerals from C$38.00 to C$40.00 in a research note on Friday, October 17th. Scotiabank downgraded shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, TD Securities increased their target price on Altius Minerals from C$34.00 to C$39.00 in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Altius Minerals currently has a consensus rating of “Moderate Buy” and an average price target of C$32.75.

Altius Minerals Stock Down 2.0%

ALS traded down C$0.80 during trading on Wednesday, hitting C$39.74. 69,209 shares of the company’s stock traded hands, compared to its average volume of 97,682. The company has a current ratio of 8.36, a quick ratio of 6.49 and a debt-to-equity ratio of 19.48. Altius Minerals has a 12-month low of C$22.27 and a 12-month high of C$44.44. The stock has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 5.19 and a beta of 0.18. The company’s 50 day simple moving average is C$38.60 and its two-hundred day simple moving average is C$32.71.

About Altius Minerals

Altius Minerals Corp is engaged in the business of obtaining diversified mining royalty. It holds interests in mining operations that produce metals and minerals such as copper, zinc, nickel, cobalt, gold, silver, and potash. The corporation also holds other pre-development stage royalty interests and various earlier stage royalties. It is engaged in the operating segments of MineralRoyalties, Renewable Royalties and Project Generation.