In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Altius Minerals (ALS). The company received a Buy today from Canaccord Genuity’s analyst Carey MacRury, with a C$18 price target.
According to TipRanks.com, MacRury is a 1-star analyst with an average return of -1.5% and a 41.8% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Osisko Gold Royalties Ltd.
Currently, the analyst consensus on Altius Minerals is a Strong Buy with an average price target of C$17.50, representing a 53.4% upside. In a report issued on January 3, Scotiabank also upgraded the stock to Buy with a C$16.50 price target.
.
Based on Altius Minerals’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$6.03 million. In comparison, last year the company had a net profit of C$6.75 million.
Altius Minerals Corp. explores and develops mineral properties. It is a diversified minerals royalty company with focus on the generation and acquisition of mineral resource projects, royalties and investments. The royalty interests include mining operations that produce thermal and metallurgical coal, potash, nickel, copper and cobalt.
The company’s shares closed on Tuesday at C$11.41.
