Raymond James Financial Issues Positive Forecast for Altius Minerals (TSE:ALS) Stock Price

Altius Minerals (TSE:ALS) had its target price increased by stock analysts at Raymond James Financial from C$52.00 to C$59.00 in a report released on Thursday,BayStreet.CA reports. Raymond James Financial’s target price would suggest a potential upside of 6.19% from the company’s previous close.

Several other brokerages have also recently issued reports on ALS. Canaccord Genuity Group raised their target price on shares of Altius Minerals from C$51.00 to C$60.00 in a report on Tuesday. TD Securities cut shares of Altius Minerals from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. TD cut shares of Altius Minerals from a “buy” rating to a “hold” rating and raised their target price for the stock from C$52.00 to C$54.00 in a report on Friday, April 10th. Scotiabank raised shares of Altius Minerals to a “hold” rating in a report on Thursday, March 12th. Finally, BMO Capital Markets raised their target price on shares of Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Altius Minerals currently has a consensus rating of “Hold” and a consensus price target of C$53.36.

Altius Minerals Stock Performance

Shares of Altius Minerals stock traded down C$0.99 during trading on Thursday, hitting C$55.56. 106,615 shares of the company’s stock were exchanged, compared to its average volume of 189,670. The company has a debt-to-equity ratio of 9.98, a quick ratio of 6.49 and a current ratio of 15.11. The business has a 50-day simple moving average of C$49.07 and a 200-day simple moving average of C$44.46. Altius Minerals has a 52-week low of C$25.92 and a 52-week high of C$57.24. The stock has a market capitalization of C$3.10 billion, a price-to-earnings ratio of 8.76 and a beta of 0.36.

Altius Minerals (TSE:ALS) last issued its earnings results on Tuesday, May 12th. The company reported C$0.11 earnings per share (EPS) for the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. The firm had revenue of C$22.17 million during the quarter. On average, research analysts forecast that Altius Minerals will post 0.3509869 EPS for the current year.

Insider Buying and Selling at Altius Minerals

In other news, Director Andr� Gaumond acquired 1,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was bought at an average price of C$41.69 per share, with a total value of C$41,690.00. Following the completion of the acquisition, the director owned 78,351 shares of the company’s stock, valued at approximately C$3,266,453.19. This represents a 1.29% increase in their ownership of the stock. Also, Director Brian Dalton acquired 2,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was purchased at an average cost of C$43.66 per share, with a total value of C$87,320.00. Following the acquisition, the director directly owned 828,356 shares of the company’s stock, valued at C$36,166,022.96. This represents a 0.24% increase in their position. Over the last quarter, insiders bought 5,600 shares of company stock valued at $235,322. Corporate 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.