Altius Minerals Corp (TSE:ALS)
TSX:ALS
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Altius Minerals
(TSX:ALS)
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Rating:77Outperform
Price Target:
C$53.00
▲(18.46% Upside)
Action:ReiteratedDate:03/12/26
The score is driven primarily by strong financial resilience (high margins, low leverage, solid free cash flow), supported by a positive technical trend and a low P/E valuation. The key constraints are shrinking revenue and earnings quality risk given recent results were materially influenced by a major asset-sale gain, alongside some sector/cost headwinds discussed on the call.
Positive Factors
Conservative balance sheet
Very low leverage (debt-to-equity ~0.10) and a materially strengthened balance sheet provide durable financial flexibility. This supports originations, opportunistic royalty acquisitions, buybacks or M&A, and helps the business withstand commodity cycles and production volatility over the next several quarters.
Negative Factors
Declining revenue trend
Multi-year revenue contraction, including a sharp ~21% decline in 2025, indicates weaker core royalty cash flows or timing gaps on asset monetizations. Persisting top-line declines reduce the base for future operating earnings and make growth dependent on new royalty originations or acquisitions.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage (debt-to-equity ~0.10) and a materially strengthened balance sheet provide durable financial flexibility. This supports originations, opportunistic royalty acquisitions, buybacks or M&A, and helps the business withstand commodity cycles and production volatility over the next several quarters.
Read all positive factors
Altius Minerals (ALS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$2.40B
Dividend Yield0.94%
Average Volume (3M)80.81K
Price to Earnings (P/E)6.3
Beta (1Y)1.03
Revenue Growth-0.76%
EPS Growth2549.18%
CountryCA
Employees19
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.24
Shares Outstanding55,915,752
10 Day Avg. Volume108,049
30 Day Avg. Volume80,814
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.13
Price to Sales (P/S)46.64
P/FCF Ratio72.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$47.75Price Target Upside6.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.66
Revenue Forecast (FY)C$83.70M
Altius Minerals Business Overview & Revenue Model
Company Description
Altius Minerals Corporation operates as a diversified mining royalty and streaming company in Canada, the United States, and Brazil. The company owns royalty and streaming interests in 12 operating mines covering copper, zinc, nickel, cobalt, iron...
How the Company Makes Money
Altius Minerals makes money primarily through mineral royalties and streaming-related interests that entitle it to payments linked to mineral production or revenues from third-party operated mines. Key revenue streams generally include: (1) Royalt...
Altius Minerals Earnings Call Summary
Earnings Call Date:Nov 11, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The earnings call indicated strong financial performance with significant net earnings and a strengthened balance sheet, driven by high-profile asset sales and improved commodity prices. However, there were challenges such as increased administrative costs and a freeze in renewable sector investments, although these were generally outweighed by positive developments.Positive Updates
Significant Financial Gains
Q3 net earnings were reported at $265 million or $5.72 per share, primarily reflecting a $340 million gain on the sale of the Arthur Gold Royalty and higher royalty revenues.
Negative Updates
Increased G&A Costs
General and administrative costs rose slightly due to one-time retirement payments.
Read all updates
Q3-2025 Updates
Positive
Negative
Significant Financial Gains
Q3 net earnings were reported at $265 million or $5.72 per share, primarily reflecting a $340 million gain on the sale of the Arthur Gold Royalty and higher royalty revenues.
Read all positive updates
Company Guidance
During Altius Minerals' Q3 2025 conference call, the company provided an optimistic financial outlook and strategic guidance. They reported Q3 net earnings of $265 million, or $5.72 per share, primarily due to a $340 million gain from selling the Arthur Gold Royalty. The sale also strengthened their balance sheet, leaving them with a liquidity of approximately $540 million, including $125 million available under a revolver and $62.5 million potentially available under an accordion feature. The company anticipates receiving the remaining $25 million from the Arthur Royalty sale in Q4, pending any challenges. Growth was driven by increased royalty revenues from Potash and copper streams, while iron ore income saw declines. Altius is exploring potential growth opportunities for new royalty investments and buyback options, with internal M&A and external opportunities being considered. They are also focused on leveraging their existing portfolio, particularly in Potash and copper, to capitalize on favorable market conditions. The renewable royalty business remains well-funded, poised for portfolio growth as market activities and opportunities increase. Altius also highlighted the potential for growth in U.S.-based electricity royalties and ongoing resource expansion at the Arthur and CAMI projects.Altius Minerals Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
84
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 40.53M | 37.27M | 68.96M | 102.05M | 81.68M |
| Gross Profit | 28.17M | 24.99M | 47.65M | 71.88M | 52.79M |
| EBITDA | 16.36M | 119.42M | 40.58M | 83.17M | 74.91M |
| Net Income | 298.63M | 100.77M | 9.54M | 37.49M | 40.02M |
Balance Sheet | |||||
| Total Assets | 1.03B | 713.99M | 773.54M | 780.58M | 721.40M |
| Cash, Cash Equivalents and Short-Term Investments | 294.13M | 15.91M | 130.42M | 82.39M | 100.02M |
| Total Debt | 88.41M | 99.38M | 112.17M | 120.87M | 115.17M |
| Total Liabilities | 135.26M | 142.86M | 161.00M | 171.78M | 192.42M |
| Stockholders Equity | 886.09M | 561.18M | 488.73M | 486.19M | 433.49M |
Cash Flow | |||||
| Free Cash Flow | 26.10M | 25.37M | 35.05M | 71.92M | 46.64M |
| Operating Cash Flow | 26.12M | 27.95M | 36.51M | 74.26M | 47.77M |
| Investing Cash Flow | 302.56M | -103.37M | 55.07M | -85.75M | -26.55M |
| Financing Cash Flow | -50.46M | -44.41M | -38.93M | -10.75M | 56.99M |
Altius Minerals Technical Analysis
Neutral
44.74
Price Trends
45.05
Negative
42.42
Positive
36.13
Positive
Market Momentum
-0.73
Positive
44.66
Neutral
24.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ALS, the sentiment is Neutral. The current price of 44.74 is below the 20-day moving average (MA) of 45.28, below the 50-day MA of 45.05, and above the 200-day MA of 36.13, indicating a neutral trend. The MACD of -0.73 indicates Positive momentum. The RSI at 44.66 is Neutral, neither overbought nor oversold. The STOCH value of 24.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:ALS.
Altius Minerals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$2.40B | 6.33 | 53.36% | 0.94% | -0.76% | 2549.18% | |
73 Outperform | C$1.38B | 7.36 | 49.14% | 9.17% | 34.89% | 67.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | C$861.95M | -29.25 | -125.19% | ― | ― | -381.19% | |
46 Neutral | C$1.61B | -21.16 | -33.37% | ― | -11.65% | 34.89% | |
44 Neutral | C$2.18B | -39.03 | -113.86% | ― | 14.32% | 37.85% | |
42 Neutral | C$1.88B | -8.53 | -17.37% | ― | ― | -465.27% |
* Basic Materials Sector Average
TSE:ALS
Altius Minerals
44.74
18.99
73.77%
TSE:NDM
Northern Dynasty Minerals
1.74
0.05
2.96%
TSE:AFM
Alphamin Resources
1.08
0.66
155.92%
TSE:USA
Americas Gold and Silver
7.95
5.90
287.80%
TSE:SGML
Sigma Lithium
14.42
-2.26
-13.55%
TSE:LAC
Lithium Americas Corp.
5.54
1.36
32.54%
Altius Minerals Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Altius Minerals Grows Royalty Revenue and Expands Battery Metals Portfolio
Positive
Mar 10, 2026
Altius Minerals reported 2025 attributable royalty revenue of $69.9 million, up from $64.0 million a year earlier, driven by stronger potash and base metal prices, copper stream deliveries and growth in renewables, partly offset by weaker iron ore...
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesM&A Transactions
Altius Minerals Closes Lithium Royalty Corp. Deal, Expands Battery Metals Footprint
Positive
Mar 6, 2026
Altius Minerals Corporation has completed its previously announced plan of arrangement with Lithium Royalty Corp., securing shareholder and court approvals to fold LRC into its operations. The deal expands Altius’s royalty portfolio in the l...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Altius Minerals Lifts 2025 Royalty Revenue and Moves to Acquire Lithium Royalty Corp.
Positive
Jan 27, 2026
Altius Minerals expects to report attributable royalty revenue of approximately $20.6 million for the fourth quarter of 2025, up from $13.5 million a year earlier, and full-year 2025 revenue of $69.7 million versus $64.0 million in 2024, driven by...
Business Operations and StrategyFinancial Disclosures
Altius Minerals Grows Junior Equities Portfolio and Prepares for Heavy 2025 Exploration Campaign
Positive
Jan 8, 2026
Altius Minerals reported that the market value of its public junior equities portfolio rose to $49.3 million as of December 31, 2025, from $44.0 million at the end of the prior quarter, following net portfolio investments of about $1.3 million. Du...
Business Operations and StrategyM&A Transactions
Altius Minerals to Acquire Lithium Royalty Corp. in C$520 Million Lithium Bet
Positive
Dec 22, 2025
Altius Minerals has entered into a definitive agreement to acquire all outstanding shares of Lithium Royalty Corp. in a transaction valued at approximately C$520 million, offering LRC shareholders a mix of cash and Altius shares, subject to prorat...
Business Operations and StrategyM&A Transactions
Altius Minerals to Acquire Lithium Royalty Corp in C$520 Million Deal
Positive
Dec 22, 2025
Altius Minerals has agreed to acquire all outstanding shares of Lithium Royalty Corp. in a C$520 million cash-and-share transaction that will add 37 lithium royalties, including four producing assets and a dozen advanced-stage projects, to its por...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.