Altius Minerals (TSE:ALS) Reaches New 12-Month High After Analyst Upgrade

Shares of Altius Minerals Co. (TSE:ALS) reached a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$36.00 to C$37.00. The stock traded as high as C$36.76 and last traded at C$36.72, with a volume of 149643 shares changing hands. The stock had previously closed at C$35.83.

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

Altius Minerals Trading Up 1.7%

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 firm has a market cap of C$1.72 billion, a PE ratio of 17.85 and a beta of 0.26. The stock has a 50-day simple moving average of C$32.55 and a two-hundred day simple moving average of C$29.17.

Altius Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.10 per share. This is an increase from Altius Minerals’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Altius Minerals’s dividend payout ratio is 17.31%.

Altius Minerals Company Profile

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.