Cormark Has Negative Outlook for Altius Minerals Q3 Earnings

Altius Minerals Co. (TSE:ALS - Free Report) - Equities researchers at Cormark lowered their Q3 2024 earnings per share (EPS) estimates for shares of Altius Minerals in a report issued on Monday, October 21st. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.06 for the quarter, down from their previous forecast of $0.11. The consensus estimate for Altius Minerals' current full-year earnings is $0.35 per share. Cormark also issued estimates for Altius Minerals' FY2024 earnings at $0.29 EPS.

Several other research firms have also recently weighed in on ALS. National Bankshares lifted their price target on Altius Minerals from C$26.00 to C$32.50 and gave the stock an "outperform" rating in a report on Tuesday, October 15th. Canaccord Genuity Group boosted their target price on shares of Altius Minerals from C$25.00 to C$29.00 and gave the company a "buy" rating in a research report on Monday, September 16th. Finally, Scotiabank raised their price target on shares of Altius Minerals from C$24.00 to C$26.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$27.75.

Altius Minerals Stock Performance

ALS stock traded down C$0.38 during mid-day trading on Wednesday, hitting C$25.86. 33,125 shares of the company were exchanged, compared to its average volume of 71,065. Altius Minerals has a 1-year low of C$16.11 and a 1-year high of C$27.43. The business has a 50 day simple moving average of C$25.01 and a 200-day simple moving average of C$22.76. The company has a current ratio of 11.30, a quick ratio of 6.49 and a debt-to-equity ratio of 17.84. The stock has a market capitalization of C$1.20 billion, a PE ratio of 82.58 and a beta of 0.94.

Altius Minerals (TSE:ALS - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported C$0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of C$0.09. Altius Minerals had a net margin of 23.34% and a return on equity of 2.32%. The company had revenue of C$19.52 million during the quarter, compared to analysts' expectations of C$19.10 million.

Altius Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.39%. Altius Minerals's dividend payout ratio is currently 116.13%.

About Altius Minerals

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.