06:56:15 EDT Thu 03 Oct 2024
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Altius Minerals Corp
Symbol ALS
Shares Issued 46,810,585
Close 2024-04-10 C$ 20.59
Market Cap C$ 963,829,945
Recent Sedar Documents

Globe says Altius Minerals kept at "sector perform"

2024-04-10 08:06 ET - In the News

The Globe and Mail reports in its Wednesday edition that according to Scotia Capital analyst Orest Wowkodaw, miners are likely to experience a significant decline in their financial results for the first quarter of 2024. The Globe's David Leeder writes that this is expected to occur on both a quarter-over-quarter and year-over-year basis. Despite the fact that commodity prices are slightly improving, analysts believe that a weaker seasonal operating performance will more than offset any benefits. Mr. Wowkodaw says in a note: "Our estimates appear below current consensus expectations for most companies. ... We do not anticipate any material guidance changes this quarter. We expect only a few company-specific catalysts with no improvements to shareholder returns. With the large and mid-cap producers currently trading at an elevated estimated average implied Cu [copper] price of $5.55 per pound, it remains unclear if significantly improved investor sentiment will look through a potentially disappointing Q1 reporting season." Mr. Wowkodaw has reaffirmed his "sector perform" recommendation for Altius Minerals. Mr. Wowkodaw gave his share target a $1.50 boost to $21. Analysts on average target the shares at $23.91.

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