Scotiabank Upgrades Altius Minerals (TSE:ALS) to Outperform

Scotiabank upgraded shares of Altius Minerals (TSE:ALS - Free Report) from a sector perform rating to an outperform rating in a report released on Monday,BayStreet.CA reports. Scotiabank currently has C$33.00 price target on the stock, up from their prior price target of C$27.00.

Several other equities research analysts have also issued reports on the company. National Bankshares lifted their price objective on Altius Minerals from C$26.00 to C$32.50 and gave the company an "outperform" rating in a research note on Tuesday, October 15th. Canaccord Genuity Group boosted their price objective on Altius Minerals from C$25.00 to C$29.00 and gave the stock a "buy" rating in a report on Monday, September 16th.

Altius Minerals Stock Performance

Shares of TSE ALS traded up C$0.92 during mid-day trading on Monday, hitting C$26.90. The company had a trading volume of 58,284 shares, compared to its average volume of 74,342. The company has a current ratio of 11.30, a quick ratio of 6.49 and a debt-to-equity ratio of 17.84. Altius Minerals has a 1 year low of C$16.11 and a 1 year high of C$27.43. The company has a market capitalization of C$1.25 billion, a price-to-earnings ratio of 86.77 and a beta of 0.94. The stock's 50-day moving average price is C$26.21 and its 200-day moving average price is C$24.16.

Altius Minerals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, November 29th. Altius Minerals's dividend payout ratio (DPR) is currently 116.13%.

Altius Minerals Company Profile

Altius Minerals Corporation operates as a diversified mining royalty and streaming company in Canada, the United States, and Brazil. The company owns royalty and streaming interests in 11 operating mines covering copper, zinc, nickel, cobalt, potash, iron ore, precious metals, and thermal and metallurgical coal.