Altius Minerals (TSE:ALS) Sets New 1-Year High – Still a Buy?

Altius Minerals Co. (TSE:ALS) reached a new 52-week high on Tuesday . The company traded as high as C$38.23 and last traded at C$38.17, with a volume of 160088 shares changing hands. The stock had previously closed at C$37.96.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Securities increased their price objective on Altius Minerals from C$34.00 to C$39.00 in a report on Tuesday, October 21st. Canaccord Genuity Group increased their price objective on Altius Minerals from C$38.00 to C$40.00 in a report on Friday, October 17th. National Bankshares increased their price objective on Altius Minerals from C$35.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Scotiabank increased their price objective on Altius Minerals from C$36.00 to C$37.00 in a report on Tuesday, October 28th. Finally, Raymond James Financial increased their price objective on Altius Minerals from C$36.00 to C$37.00 in a report on Friday, October 10th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Altius Minerals presently has an average rating of “Buy” and a consensus price target of C$35.50.

Altius Minerals Stock Performance

The company has a debt-to-equity ratio of 19.48, a quick ratio of 6.49 and a current ratio of 8.36. The stock has a fifty day simple moving average of C$33.25 and a two-hundred day simple moving average of C$29.59. The stock has a market capitalization of C$1.75 billion, a price-to-earnings ratio of 18.22 and a beta of 0.17.

Altius Minerals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.10 dividend. This is an increase from Altius Minerals’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Altius Minerals’s dividend payout ratio (DPR) is currently 17.31%.

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.