Altius Minerals (TSE:ALS) Hits New 52-Week High – Here’s What Happened

Altius Minerals Co. (TSE:ALS) reached a new 52-week high during trading on Wednesday . The company traded as high as C$49.92 and last traded at C$49.73, with a volume of 7260 shares. The stock had previously closed at C$46.79.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ALS shares. Raymond James Financial lifted their price objective on shares of Altius Minerals from C$47.00 to C$48.00 and gave the company an “outperform” rating in a report on Friday, March 13th. TD Securities raised their target price on shares of Altius Minerals from C$39.00 to C$52.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Canaccord Genuity Group lifted their price target on shares of Altius Minerals from C$47.00 to C$51.00 in a research note on Monday, March 16th. National Bank Financial boosted their price target on Altius Minerals from C$45.50 to C$52.00 in a report on Thursday, January 29th. Finally, Scotiabank raised Altius Minerals to a “hold” rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$45.83.

Altius Minerals Trading Up 2.6%

The company has a quick ratio of 6.49, a current ratio of 15.11 and a debt-to-equity ratio of 9.98. The stock’s 50 day moving average is C$45.45 and its two-hundred day moving average is C$40.81. The company has a market capitalization of C$2.93 billion, a PE ratio of 8.27 and a beta of 0.33.

Altius Minerals (TSE:ALS) last posted its earnings results on Tuesday, March 10th. The company reported C$0.24 EPS for the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. The business had revenue of C$14.06 million for the quarter. As a group, sell-side analysts predict that Altius Minerals Co. will post 0.3509869 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Dalton bought 2,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was bought at an average price of C$43.66 per share, for a total transaction of C$87,320.00. Following the completion of the acquisition, the director directly owned 828,356 shares in the company, valued at approximately C$36,166,022.96. This represents a 0.24% increase in their ownership of the stock. Also, insider Mark Raguz bought 1,160 shares of the stock in a transaction on Friday, January 30th. The shares were bought at an average price of C$43.01 per share, with a total value of C$49,891.60. Following the acquisition, the insider owned 20,253 shares of the company’s stock, valued at C$871,081.53. This trade represents a 6.08% increase in their ownership of the stock. Insiders acquired 5,160 shares of company stock valued at $220,562 over the last 90 days. Corporate insiders own 19.00% of the company’s stock.

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.