Scotiabank Upgrades Altius Minerals (TSE:ALS) to “Hold”

Altius Minerals (TSE:ALS) was upgraded by Scotiabank to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently commented on ALS. Raymond James Financial cut Altius Minerals from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from C$9.00 to C$9.50 in a report on Tuesday, December 30th. National Bank Financial increased their price objective on shares of Altius Minerals from C$45.50 to C$52.00 in a report on Thursday, January 29th. BMO Capital Markets lifted their price objective on shares of Altius Minerals from C$34.00 to C$35.00 in a research report on Wednesday, November 12th. Finally, TD Securities boosted 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 report on Thursday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Altius Minerals presently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.00.

Altius Minerals Price Performance

TSE:ALS opened at C$43.05 on Thursday. The business’s 50-day simple moving average is C$45.23 and its two-hundred day simple moving average is C$39.29. Altius Minerals has a 52 week low of C$22.27 and a 52 week high of C$49.73. The stock has a market cap of C$1.99 billion, a PE ratio of 5.63 and a beta of 0.33. The company has a quick ratio of 6.49, a current ratio of 15.11 and a debt-to-equity ratio of 9.98.

Altius Minerals (TSE:ALS) last released 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 firm had revenue of C$14.06 million during the quarter. As a group, analysts forecast that Altius Minerals will post 0.3509869 EPS for the current fiscal year.

Insider Buying and Selling

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