Altius Minerals (TSE:ALS) Hits New 1-Year High – What’s Next?

Altius Minerals Co. (TSE:ALS) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$61.12 and last traded at C$60.43, with a volume of 16316 shares traded. The stock had previously closed at C$58.23.

Wall Street Analysts Forecast Growth

ALS has been the topic of several recent research reports. National Bank Financial lifted their target price on Altius Minerals from C$57.50 to C$62.50 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. TD downgraded Altius Minerals from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$52.00 to C$54.00 in a report on Friday, April 10th. Scotiabank raised Altius Minerals to a “hold” rating in a report on Thursday, March 12th. Raymond James Financial lifted their target price on Altius Minerals from C$52.00 to C$59.00 in a report on Thursday, May 14th. Finally, TD Securities downgraded Altius Minerals from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Altius Minerals has a consensus rating of “Hold” and a consensus price target of C$53.36.

Altius Minerals Stock Performance

The company has a 50-day moving average price of C$53.46 and a two-hundred day moving average price of C$47.03. The company has a current ratio of 9.96, a quick ratio of 6.49 and a debt-to-equity ratio of 6.56. The stock has a market capitalization of C$3.37 billion, a P/E ratio of 9.67 and a beta of 0.39.

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

Insiders Place Their Bets

In other Altius Minerals news, insider Mark Raguz acquired 1,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of C$40.20 per share, with a total value of C$40,200.00. Following the transaction, the insider owned 21,253 shares in the company, valued at approximately C$854,370.60. The trade was a 4.94% increase in their position. Also, Director Andr� Gaumond acquired 1,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of C$41.69 per share, with a total value of C$41,690.00. Following the completion of the transaction, the director owned 78,351 shares in the company, valued at approximately C$3,266,453.19. This represents a 1.29% increase in their position. In the last quarter, insiders bought 7,620 shares of company stock valued at $338,274. Insiders own 19.00% of the company’s stock.

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.