Canaccord Genuity Group Increases Altius Minerals (TSE:ALS) Price Target to C$60.00

Altius Minerals (TSE:ALS) had its target price boosted by equities researchers at Canaccord Genuity Group from C$51.00 to C$60.00 in a report issued on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 5.36% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. National Bank Financial raised their price objective on Altius Minerals from C$55.00 to C$57.50 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. TD Securities lowered Altius Minerals from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. TD lowered Altius Minerals from a “buy” rating to a “hold” rating and raised their target price for the company from C$52.00 to C$54.00 in a report on Friday, April 10th. Scotiabank raised Altius Minerals to a “hold” rating in a report on Thursday, March 12th. Finally, Raymond James Financial raised their target price on Altius Minerals from C$48.00 to C$52.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$49.64.

Altius Minerals Stock Performance

Shares of ALS stock traded up C$1.85 during trading on Tuesday, reaching C$56.95. The company had a trading volume of 201,237 shares, compared to its average volume of 188,589. The firm’s 50 day simple moving average is C$48.74 and its two-hundred day simple moving average is C$44.16. The company has a debt-to-equity ratio of 9.98, a current ratio of 15.11 and a quick ratio of 6.49. Altius Minerals has a one year low of C$25.92 and a one year high of C$57.12. The company has a market capitalization of C$3.17 billion, a PE ratio of 8.98 and a beta of 0.36.

Altius Minerals (TSE:ALS) last issued its quarterly earnings data on Tuesday, March 10th. The company reported C$0.24 earnings per share for the quarter. Altius Minerals had a return on equity of 41.51% and a net margin of 614.83%.The business had revenue of C$14.06 million for the quarter. Sell-side analysts forecast that Altius Minerals will post 0.3509869 earnings per share for the current year.

Insider Activity at Altius Minerals

In related news, Director Brian Dalton purchased 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of C$41.32 per share, with a total value of C$66,112.00. Following the purchase, the director directly owned 829,956 shares in the company, valued at C$34,293,781.92. This represents a 0.19% increase in their ownership of the stock. Also, Director Andr� Gaumond purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average cost of C$41.69 per share, for a total transaction of C$41,690.00. Following the purchase, the director owned 78,351 shares in the company, valued at C$3,266,453.19. This represents a 1.29% increase in their ownership of the stock. Insiders have purchased a total of 5,600 shares of company stock valued at $235,322 in the last 90 days. 19.00% of the stock is owned by corporate insiders.

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.