Altius Minerals (TSE:ALS) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Altius Minerals Co. (TSE:ALS) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.40 and traded as low as C$24.64. Altius Minerals shares last traded at C$24.76, with a volume of 70,546 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Altius Minerals from C$23.00 to C$24.00 in a report on Thursday, January 30th. Scotiabank raised Altius Minerals from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$27.00 to C$33.00 in a research note on Monday, December 23rd. Finally, TD Securities reduced their price objective on Altius Minerals from C$32.00 to C$31.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

Altius Minerals Price Performance

The stock’s fifty day moving average price is C$26.27 and its 200-day moving average price is C$26.39. The firm has a market cap of C$1.14 billion, a PE ratio of 83.60 and a beta of 0.94. The company has a debt-to-equity ratio of 19.48, a quick ratio of 6.49 and a current ratio of 8.36.

About Altius Minerals

Altius Minerals Corp is engaged in the business of obtaining diversified mining royalty. It holds interests in mining operations that produce metals and minerals such as copper, zinc, nickel, cobalt, gold, silver, and potash. The corporation also holds other pre-development stage royalty interests and various earlier stage royalties.