Altius Minerals (TSE:ALS) Sets New 12-Month High – Time to Buy?

Altius Minerals Co. (TSE:ALS)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$60.74 and last traded at C$59.65, with a volume of 278970 shares changing hands. The stock had previously closed at C$57.92.

Analysts Set New Price Targets

Several research firms have commented on ALS. Scotiabank raised Altius Minerals to a “hold” rating in a research report on Thursday, March 12th. BMO Capital Markets lifted their target price on Altius Minerals from C$44.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Raymond James Financial lifted their target price on Altius Minerals from C$52.00 to C$59.00 in a research report on Thursday, May 14th. TD lowered Altius Minerals from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$52.00 to C$54.00 in a research report on Friday, April 10th. Finally, National Bank Financial lifted their target price on Altius Minerals from C$57.50 to C$62.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$53.36.

Altius Minerals Stock Performance

The firm has a market capitalization of C$3.32 billion, a PE ratio of 9.52 and a beta of 0.36. The company has a debt-to-equity ratio of 6.56, a current ratio of 9.96 and a quick ratio of 6.49. The stock has a 50-day moving average price of C$52.14 and a 200-day moving average price of C$46.20.

Altius Minerals (TSE:ALS) last announced its earnings results on Tuesday, May 12th. The company reported C$0.11 earnings per share (EPS) for the quarter. The business had revenue of C$22.17 million for the quarter. Altius Minerals had a return on equity of 32.43% and a net margin of 543.91%. On average, research analysts expect that Altius Minerals Co. will post 0.3509869 EPS for the current fiscal year.

Insider Transactions at Altius Minerals

In other news, insider Mark Raguz acquired 1,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of C$40.20 per share, with a total value of C$40,200.00. Following the completion of the acquisition, the insider directly owned 21,253 shares in the company, valued at C$854,370.60. This represents a 4.94% increase in their ownership of the stock. Also, insider Stephanie Hussey acquired 1,700 shares of the 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 completion of the acquisition, the insider owned 18,521 shares of the company’s stock, valued at C$943,830.16. The trade was a 10.11% increase in their ownership of the stock. Insiders bought 7,620 shares of company stock valued at $338,274 in the last three months. Corporate insiders own 19.00% of the company’s stock.

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.