Raymond James Financial Downgrades Altius Minerals (TSE:ALS) to Hold

Altius Minerals (TSE:ALS) was downgraded by Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research note issued on Wednesday, MarketBeat.com reports. They presently have a C$9.50 price target on the stock, up from their previous price target of C$9.00. Raymond James Financial’s price target would indicate a potential downside of 76.09% from the company’s previous close.

ALS has been the subject of several other research reports. Canaccord Genuity Group raised their price target on shares of Altius Minerals from C$38.00 to C$40.00 in a research note on Friday, October 17th. BMO Capital Markets increased their price objective on Altius Minerals from C$34.00 to C$35.00 in a report on Wednesday, November 12th. Scotiabank lowered Altius Minerals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, TD Securities increased their price target on Altius Minerals from C$34.00 to C$39.00 in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$32.75.

Altius Minerals Price Performance

Shares of TSE:ALS opened at C$39.74 on Wednesday. The company has a market capitalization of C$1.84 billion, a P/E ratio of 5.19 and a beta of 0.18. The company’s 50-day moving average is C$38.81 and its 200 day moving average is C$32.81. The company has a debt-to-equity ratio of 19.48, a quick ratio of 6.49 and a current ratio of 8.36. Altius Minerals has a fifty-two week low of C$22.27 and a fifty-two week high of C$44.44.

About Altius Minerals

Altius Minerals Corp is engaged in the business of obtaining diversified mining royalty. It holds interests in mining operations that produce metals and minerals such as copper, zinc, nickel, cobalt, gold, silver, and potash. The corporation also holds other pre-development stage royalty interests and various earlier stage royalties. It is engaged in the operating segments of MineralRoyalties, Renewable Royalties and Project Generation.