Altius Minerals (TSE:ALS) Issues Earnings Results

Altius Minerals (TSE:ALS) posted its quarterly earnings results on Tuesday. The company reported C$0.18 earnings per share for the quarter, FiscalAI reports. Altius Minerals had a net margin of 462.21% and a return on equity of 27.08%. The business had revenue of C$19.57 million during the quarter.

Altius Minerals Trading Down 5.0%

TSE:ALS traded down C$2.52 during midday trading on Thursday, reaching C$47.94. 117,275 shares of the stock traded hands, compared to its average volume of 234,425. The company has a fifty day moving average of C$60.36 and a 200 day moving average of C$55.46. Altius Minerals has a 12 month low of C$37.78 and a 12 month high of C$69.55. The company has a debt-to-equity ratio of 6.47, a quick ratio of 6.49 and a current ratio of 13.49. The stock has a market capitalization of C$2.82 billion, a P/E ratio of 7.61 and a beta of 0.23.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALS. Canaccord Genuity Group raised their price objective on Altius Minerals from C$60.00 to C$70.00 in a research note on Tuesday, August 11th. Scotiabank raised Altius Minerals to a “hold” rating in a research note on Thursday, July 23rd. TD set a C$60.00 target price on Altius Minerals and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Raymond James Financial increased their target price on Altius Minerals from C$66.00 to C$69.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Finally, National Bank Financial raised their price target on Altius Minerals from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Altius Minerals currently has an average rating of “Hold” and a consensus price target of C$64.00.

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.