The Globe and Mail reports in its Wednesday, March 13, edition that TD Securities analyst Craig Hutchison upgraded mining royalty company Altius Minerals to "buy" from "hold" due to improving revenue and earnings outlook. The Globe's Darcy Keith writes in the Eye On Equities column that as a result, Mr. Hutchison increased his share target by a loonie to $23. Analysts on average target the shares at $23.47. Mr. Hutchison says in a note: "Over the past 12 months, Altius's portfolio has experienced a number of headwinds, including the loss of royalties from 777, the wind-down of its thermal coal revenues, and declining potash royalties on lower prices. Over the next 12 months, the company's revenues should stabilize, with potash prices having leveled off, and revenues should start accelerating from 2025, driven by the growth in the company's renewables portfolio." Mr. Hutchison is forecasting $30-million of free cash flow in 2024, which could support further share repurchases, dividend increases and/or new royalty acquisitions. The Globe reported on Nov. 21 that Scotia Capital analyst Orest Wowkodaw had reiterated his "sector perform" recommendation for Altius Minerals. The shares could then be had for $18.66.