Canaccord Genuity Group Boosts Altius Minerals (TSE:ALS) Price Target to C$51.00

Altius Minerals (TSE:ALS) had its target price increased by equities researchers at Canaccord Genuity Group from C$47.00 to C$51.00 in a report released on Monday,BayStreet.CA reports. Canaccord Genuity Group’s target price indicates a potential upside of 16.04% from the company’s previous close.

Several other research firms have also recently issued reports on ALS. Raymond James Financial raised their target price on Altius Minerals from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Friday. TD Securities raised 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. National Bank Financial upped their target price on shares of Altius Minerals from C$45.50 to C$52.00 in a report on Thursday, January 29th. Finally, Scotiabank upgraded shares of Altius Minerals to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$45.83.

Altius Minerals Trading Up 2.1%

Altius Minerals stock traded up C$0.90 during midday trading on Monday, reaching C$43.95. 2,074,173 shares of the stock traded hands, compared to its average volume of 200,061. 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 firm has a market cap of C$2.03 billion, a PE ratio of 5.75 and a beta of 0.33. The company has a 50-day simple moving average of C$45.23 and a two-hundred day simple moving average of C$39.43. Altius Minerals has a 12-month low of C$22.27 and a 12-month high of C$49.73.

Altius Minerals (TSE:ALS) last issued its quarterly earnings results on Tuesday, March 10th. The company reported C$0.24 EPS for the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. The company had revenue of C$14.06 million during the quarter. Research analysts expect that Altius Minerals will post 0.3509869 earnings per share for the current fiscal year.

Insider Transactions at Altius Minerals

In other news, insider Mark Raguz purchased 1,160 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were purchased at an average cost of C$43.01 per share, for a total transaction of C$49,891.60. Following the purchase, the insider directly owned 20,253 shares in the company, valued at approximately C$871,081.53. This represents a 6.08% increase in their position. Also, insider Flora Emily Mackay Wood acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was purchased at an average cost of C$43.15 per share, with a total value of C$43,150.00. Following the acquisition, the insider directly owned 13,370 shares of the company’s stock, valued at C$576,915.50. This trade represents a 8.08% increase in their ownership of the stock. Company insiders own 19.00% of the company’s stock.

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.