Analyst Rene Cartier from BMO Capital maintained a Hold rating on Altius Minerals (ALS – Research Report) and increased the price target to C$25.00 from C$24.00.
Rene Cartier has given his Hold rating due to a combination of factors impacting Altius Minerals. The company’s Q1/25 attributable royalty revenue fell short of expectations, with lower-than-anticipated results across several segments, including potash, base and battery metals, and renewables. These shortfalls were attributed to specific operational challenges, such as mine unit sequencing and maintenance shutdowns in the potash segment, and timing issues related to copper stream deliveries in the base and battery metals division.
Furthermore, while Altius offers investors diversified risk exposure through its royalty and streaming model, the stock has already experienced a significant re-rating. It is currently trading above its historical average multiple ranges and at a premium compared to its peers. This valuation concern, coupled with the recent revenue misses, supports the Hold rating as the stock may not present an attractive entry point at current levels.
According to TipRanks, Cartier is a 5-star analyst with an average return of 19.0% and a 56.99% success rate. Cartier covers the Basic Materials sector, focusing on stocks such as Western Copper, Sandstorm Gold, and Osisko Gold Royalties.