Altius Minerals (TSE:ALS) Stock Breaks Above 50-Day Moving Average – Here’s What Happened

by · The Markets Daily

Altius Minerals Co. (TSE:ALS – Get Free Report)’s share price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$63.71 and traded as high as C$66.23. Altius Minerals shares last traded at C$64.63, with a volume of 154,617 shares traded.

Wall Street Analyst Weigh In

ALS has been the topic of a number of research reports. TD set a C$60.00 price target on shares of Altius Minerals and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Raymond James Financial upped their target price on shares of Altius Minerals from C$66.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Scotiabank upgraded Altius Minerals to a “hold” rating in a report on Thursday, July 23rd. ATB Cormark Capital Markets increased their price objective on Altius Minerals from C$68.00 to C$79.00 in a report on Tuesday, July 14th. Finally, National Bank Financial boosted their target price on Altius Minerals from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$64.00.

Check Out Our Latest Report on ALS

Altius Minerals Stock Up 2.0%

The company has a market cap of C$3.86 billion, a price-to-earnings ratio of 10.44 and a beta of 0.49. The company has a debt-to-equity ratio of 6.47, a current ratio of 13.49 and a quick ratio of 6.49. The firm has a 50-day moving average price of C$63.83 and a 200 day moving average price of C$57.83.

Altius Minerals (TSE:ALS – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported C$0.14 earnings per share (EPS) for the quarter. The business had revenue of C$23.15 million during the quarter. Altius Minerals had a return on equity of 27.08% and a net margin of 462.21%. Sell-side analysts predict that Altius Minerals Co. will post 0.3509869 EPS for the current year.

About Altius Minerals

(Get Free Report)

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.

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