Altius Minerals (TSE:ALS) Hits New 1-Year High – Here’s Why

Altius Minerals Co. (TSE:ALS)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$68.41 and last traded at C$68.23, with a volume of 54034 shares. The stock had previously closed at C$65.22.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALS shares. National Bank Financial raised their price objective on shares of Altius Minerals from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Canaccord Genuity Group increased their target price on shares of Altius Minerals from C$60.00 to C$70.00 in a research note on Tuesday, August 11th. Raymond James Financial raised their target price on shares of Altius Minerals from C$66.00 to C$69.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. ATB Cormark Capital Markets lifted their price target on shares of Altius Minerals from C$68.00 to C$79.00 in a research report on Tuesday, July 14th. Finally, TD set a C$60.00 price target on Altius Minerals and gave the company a “hold” rating in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$64.00.

Altius Minerals Stock Performance

The firm’s fifty day simple moving average is C$62.42 and its 200 day simple moving average is C$56.44. The company has a market capitalization of C$3.98 billion, a price-to-earnings ratio of 10.77 and a beta of 0.49. The company has a debt-to-equity ratio of 6.47, a current ratio of 13.49 and a quick ratio of 6.49.

Altius Minerals (TSE:ALS) last issued its quarterly earnings results on Monday, August 10th. The company reported C$0.14 EPS for the quarter. Altius Minerals had a net margin of 462.21% and a return on equity of 27.08%. The business had revenue of C$23.15 million during the quarter. On average, sell-side analysts forecast that Altius Minerals Co. will post 0.3509869 EPS for the current year.

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.