Scotiabank Forecasts Strong Price Appreciation for Altius Minerals (TSE:ALS) Stock

Altius Minerals (TSE:ALS) had its target price increased by equities research analysts at Scotiabank from C$57.00 to C$58.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 3.03% from the company’s previous close.

ALS has been the topic of a number of other research reports. BMO Capital Markets upped their price target on Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Canaccord Genuity Group increased their price target on Altius Minerals from C$51.00 to C$60.00 in a research note on Tuesday, May 12th. TD lowered shares of Altius Minerals from a “buy” rating to a “hold” rating and upped their price target for the stock from C$52.00 to C$54.00 in a research report on Friday, April 10th. Raymond James Financial increased their price target on Altius Minerals from C$52.00 to C$59.00 in a report on Thursday, May 14th. Finally, National Bank Financial raised their price target on shares of Altius Minerals from C$57.50 to C$62.50 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Altius Minerals has an average rating of “Hold” and an average price target of C$56.36.

Altius Minerals Stock Up 2.7%

TSE ALS traded up C$1.58 during trading on Monday, reaching C$59.81. 115,517 shares of the company’s stock were exchanged, compared to its average volume of 207,369. The company has a debt-to-equity ratio of 6.56, a quick ratio of 6.49 and a current ratio of 9.96. 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 stock has a market cap of C$3.33 billion, a P/E ratio of 9.55 and a beta of 0.39. Altius Minerals has a 1 year low of C$26.59 and a 1 year high of C$61.12.

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

Insider Buying and Selling at Altius Minerals

In other Altius Minerals news, insider Mark Raguz purchased 1,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average price of C$40.20 per share, for a total transaction of C$40,200.00. Following the purchase, the insider directly owned 21,253 shares in the company, valued at C$854,370.60. This trade represents a 4.94% increase in their position. Also, insider Stephanie Hussey bought 1,700 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of C$50.96 per share, with a total value of C$86,632.00. Following the transaction, the insider owned 18,521 shares in the company, valued at approximately C$943,830.16. The trade was a 10.11% increase in their ownership of the stock. In the last ninety days, insiders have bought 7,620 shares of company stock worth $338,274. 19.00% of the stock is owned by corporate 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.