Altius Minerals (TSE:ALS) Shares Pass Above 50 Day Moving Average – Here’s Why

Altius Minerals Co. (TSE:ALS) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$40.97 and traded as high as C$45.99. Altius Minerals shares last traded at C$45.96, with a volume of 91,969 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALS shares. TD Securities raised their price objective on Altius Minerals from C$34.00 to C$39.00 in a research note on Tuesday, October 21st. Canaccord Genuity Group upped their price target on shares of Altius Minerals from C$38.00 to C$40.00 in a report on Friday, October 17th. BMO Capital Markets boosted their price objective on shares of Altius Minerals from C$34.00 to C$35.00 in a research report on Wednesday, November 12th. Raymond James Financial cut Altius Minerals from an “outperform” rating to a “market perform” rating and increased their target price for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 30th. Finally, Scotiabank cut Altius Minerals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Altius Minerals has an average rating of “Moderate Buy” and a consensus target price of C$32.75.

Altius Minerals Price Performance

The firm has a market capitalization of C$2.13 billion, a PE ratio of 6.01 and a beta of 0.20. The firm’s fifty day simple moving average is C$40.97 and its 200-day simple moving average is C$34.81. The company has a quick ratio of 6.49, a current ratio of 8.36 and a debt-to-equity ratio of 19.48.

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.