Altius Minerals (TSE:ALS) Price Target Raised to C$70.00 at Canaccord Genuity Group

Altius Minerals (TSE:ALS) had its target price increased by analysts at Canaccord Genuity Group from C$60.00 to C$70.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 12.34% from the company’s previous close.

A number of other research firms have also weighed in on ALS. ATB Cormark Capital Markets increased their price target on Altius Minerals from C$68.00 to C$79.00 in a research report on Tuesday, July 14th. National Bank Financial upped their price objective on shares of Altius Minerals from C$62.50 to C$70.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. BMO Capital Markets raised their target price on shares of Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Raymond James Financial lifted their target price on shares of Altius Minerals from C$64.00 to C$66.00 in a research report on Monday, July 13th. Finally, Scotiabank upgraded shares of Altius Minerals to a “hold” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$63.00.

Altius Minerals Price Performance

Altius Minerals stock traded down C$0.03 during mid-day trading on Tuesday, hitting C$62.31. The company’s stock had a trading volume of 126,588 shares, compared to its average volume of 249,268. The stock has a market capitalization of C$3.66 billion, a P/E ratio of 9.95 and a beta of 0.40. Altius Minerals has a twelve month low of C$28.63 and a twelve month high of C$66.05. The stock’s fifty day moving average price is C$59.84 and its two-hundred day moving average price is C$52.56. The company has a quick ratio of 6.49, a current ratio of 9.96 and a debt-to-equity ratio of 6.56.

Altius Minerals (TSE:ALS) last released its quarterly earnings data on Monday, August 10th. The company reported C$0.14 earnings per share for the quarter. The business had revenue of C$23.15 million during the quarter. Altius Minerals had a return on equity of 32.43% and a net margin of 543.91%. Research analysts forecast that Altius Minerals will post 0.3509869 earnings per share for the current year.

Insiders Place Their Bets

In other Altius Minerals news, insider Stephanie Hussey acquired 1,700 shares of Altius Minerals stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of C$50.96 per share, with a total value of C$86,632.00. Following the purchase, the insider owned 18,521 shares in the company, valued at approximately C$943,830.16. The trade was a 10.11% increase in their ownership of the stock. 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.