Altius Minerals (TSE:ALS) Reaches New 52-Week High After Dividend Announcement

Altius Minerals Co. (TSE:ALS)’s share price reached a new 52-week high on Monday following a dividend announcement from the company. The company traded as high as C$30.51 and last traded at C$30.43, with a volume of 58728 shares traded. The stock had previously closed at C$30.15.

The newly announced dividend which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Altius Minerals’s previous quarterly dividend of $0.09. Altius Minerals’s dividend payout ratio is presently 121.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Securities raised their price objective on Altius Minerals from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Canaccord Genuity Group raised their price objective on Altius Minerals from C$33.00 to C$35.00 in a research report on Monday, April 21st.

Altius Minerals Trading Up 0.4%

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’s fifty day moving average is C$27.82 and its 200 day moving average is C$26.59. The stock has a market cap of C$1.40 billion, a P/E ratio of 102.45 and a beta of 0.94.

Insider Transactions at Altius Minerals

In related news, Senior Officer Benjamin Gerard Lewis sold 3,034 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of C$29.10, for a total value of C$88,289.40. Also, Senior Officer Mark Raguz purchased 1,400 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average cost of C$28.41 per share, with a total value of C$39,778.20. 19.00% of the stock is currently owned by company insiders.

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.