Raymond James Financial Raises Altius Minerals (TSE:ALS) Price Target to C$48.00

Altius Minerals (TSE:ALS) had its target price increased by equities research analysts at Raymond James Financial from C$47.00 to C$48.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s target price suggests a potential upside of 11.50% from the stock’s current price.

A number of other brokerages have also recently issued reports on ALS. TD Securities lifted their target price on shares of Altius Minerals from C$39.00 to C$52.00 and gave the stock a “buy” rating in a research report on Thursday. Scotiabank upgraded shares of Altius Minerals to a “hold” rating in a research report on Thursday. Finally, National Bank Financial raised their price objective on shares of Altius Minerals from C$45.50 to C$52.00 in a research note on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Altius Minerals presently has an average rating of “Moderate Buy” and an average target price of C$44.00.

Altius Minerals Trading Down 3.6%

Shares of ALS opened at C$43.05 on Friday. The company has a current ratio of 15.11, a quick ratio of 6.49 and a debt-to-equity ratio of 9.98. The firm’s 50-day moving average is C$45.23 and its two-hundred day moving average is C$39.36. Altius Minerals has a twelve month low of C$22.27 and a twelve month high of C$49.73. The firm has a market capitalization of C$1.99 billion, a P/E ratio of 5.63 and a beta of 0.33.

Altius Minerals (TSE:ALS) last posted its quarterly earnings results on Tuesday, March 10th. The company reported C$0.24 earnings per share (EPS) for the quarter. Altius Minerals had a net margin of 614.83% and a return on equity of 41.51%. The company had revenue of C$14.06 million during the quarter. On average, research analysts predict that Altius Minerals will post 0.3509869 earnings per share for the current fiscal year.

Insider Transactions at Altius Minerals

In other news, insider Flora Emily Mackay Wood purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were bought at an average cost of C$43.15 per share, with a total value of C$43,150.00. Following the purchase, the insider directly owned 13,370 shares of the company’s stock, valued at approximately C$576,915.50. This trade represents a 8.08% increase in their ownership of the stock. Also, insider Mark Raguz purchased 1,160 shares of the stock in a transaction dated Friday, January 30th. The shares were purchased at an average price of C$43.01 per share, with a total value of C$49,891.60. Following the completion of the acquisition, the insider owned 20,253 shares of the company’s stock, valued at approximately C$871,081.53. This represents a 6.08% increase in their ownership of the stock. Company insiders own 19.00% of the company’s stock.

Altius Minerals Company Profile

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.