Altius Minerals Corp (TSE:ALS)
TSX:ALS
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Altius Minerals
(TSX:ALS)
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Rating:74Outperform
Price Target:
C$62.00
▲(19.76% Upside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by solid financial health (low leverage and improving revenue) and supportive technical momentum (price above key moving averages, positive MACD). It is held back by weak valuation (very high P/E and low yield) and some near-term cash-flow/earnings volatility highlighted in the earnings call.
Positive Factors
Conservative balance sheet
Very low leverage and an expanding asset base give Altius durable financial flexibility. With conservative debt levels the company can fund royalty deployments, dividends, and opportunistic buybacks while absorbing cyclical commodity swings without immediate refinancing pressure.
Negative Factors
Free cash flow deterioration
A near‑30% decline in trailing free cash flow signals weaker cash conversion and raises funding sensitivity for near-term deployments. Combined with higher tax payments and transaction-related outflows, the drop constrains internally generated capital for reinvestment or shareholder returns without tapping liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and an expanding asset base give Altius durable financial flexibility. With conservative debt levels the company can fund royalty deployments, dividends, and opportunistic buybacks while absorbing cyclical commodity swings without immediate refinancing pressure.
Read all positive factors
Altius Minerals (ALS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.24B
Dividend Yield0.94%
Average Volume (3M)80.81K
Price to Earnings (P/E)9.6
Beta (1Y)1.17
Revenue Growth29.24%
EPS Growth188.40%
CountryCA
Employees19
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)6.37
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$56.08Price Target Upside8.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.72
Revenue Forecast (FY)C$100.23M
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 makes money primarily through mineral royalties and royalty-like arrangements that generate cash payments when third-party operators produce and sell minerals from properties on which Altius holds an interest. Key revenue streams typically ...
Altius Minerals Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call emphasized clear positive momentum: accelerating electricity royalty revenues with a deep GBR pipeline, a materially strengthened lithium position that benefits from a rapid (~+100%) price rebound, solid adjusted EBITDA ($20M), and a strong liquidity position (~$350M). Management signaled active capital deployment plans (particularly in electricity royalties), opportunistic shareholder returns (dividend and NCIB activity) and multiple multi-year upside scenarios (ancillary milestone payments and lithium development expansions). Offsetting these positives were near-term impacts from one-time LRC post-closing fees, higher taxes and working capital pressures that constrained operating cash flow and kept reported net earnings modest ($2.6M). Ancillary revenue upside is attractive but episodic and uncertain. Overall, the positives (portfolio growth drivers, liquidity, and rising commodity dynamics) outweigh the short-term expenses and execution risks.Positive Updates
Q1 Financial Results — Revenue and Profitability
Reported Q1 net earnings of $2.6 million ($0.05 per share), royalty revenue of $27 million and adjusted EBITDA of $20 million. Adjusted net earnings were $0.11 per share, higher than Q1 2025, driven by higher realized commodity prices, timing of copper stream deliveries and increased electricity royalty revenue.
Negative Updates
One-Time Acquisition Costs and Higher Expenses
Q1 results were offset by higher expenses that included one-time post-closing fees associated with the LRC acquisition, which reduced reported net earnings and required additional cash outflows tied to the transaction.
Read all updates
Q1-2026 Updates
Positive
Negative
Q1 Financial Results — Revenue and Profitability
Reported Q1 net earnings of $2.6 million ($0.05 per share), royalty revenue of $27 million and adjusted EBITDA of $20 million. Adjusted net earnings were $0.11 per share, higher than Q1 2025, driven by higher realized commodity prices, timing of copper stream deliveries and increased electricity royalty revenue.
Read all positive updates
Company Guidance
Management provided both near‑term results and forward guidance anchored by key metrics: Q1 net earnings were $2.6M ($0.05/share) with adjusted net earnings of $0.11/share, royalty revenue of $27M and adjusted EBITDA of $20M, driven by higher realized prices, timing of copper stream deliveries, rising electricity royalties and the addition of four operating lithium royalties from the March 6 LRC acquisition (consideration: 9.6M Altius shares + $140M cash after a prior $14M loan); operating cash flow was impacted by higher tax payments, working capital changes and post‑closing LRC fees. Balance sheet and capital actions: total liquidity ≈ $350M (including $125M revolver availability and $62.5M accordion), $30.5M distribution from the Royalty Capital Fund, $2M scheduled term debt repayment, $5.2M cash dividends paid (≈8,000 shares issued under DRIP), NCIB repurchases of ~227,000 shares for $9.9M, and a Board‑approved quarterly dividend of $0.10/share (record May 29, payable June 15). Electricity/GBR guidance highlighted an effective 29% interest in GBR, a new 5‑year revenue illustration (slide shows ~$74M by 2030), five projects under construction, an expectation that 2026 will be a major year for new royalty deployments, a potential ~$100M of milestone payments over 3–4 years, and an interconnection deposit financing program funded by a dedicated credit facility. Lithium guidance emphasized that prices have doubled since the acquisition, updated 5‑year lithium revenue forecasts were meaningfully increased, four operating royalties are already contributing, operators are planning Phase 2 expansions at Tres Quebradas, Mariana, Goulamina and Grota de Cirilo, Finniss is financing a restart later this year, Neves has begun contracting, and industry estimates suggest new supply needs of roughly 3x current production within 10 years.Altius Minerals Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 54.21M | 40.53M | 37.27M | 68.96M | 102.05M | 81.68M |
| Gross Profit | 39.75M | 28.17M | 24.99M | 47.65M | 71.88M | 52.79M |
| EBITDA | 363.50M | 16.36M | 119.42M | 40.58M | 83.17M | 74.91M |
| Net Income | 294.87M | 298.63M | 100.77M | 9.54M | 37.49M | 40.02M |
Balance Sheet | ||||||
| Total Assets | 1.47B | 1.03B | 713.99M | 773.54M | 780.58M | 721.40M |
| Cash, Cash Equivalents and Short-Term Investments | 128.17M | 294.13M | 15.91M | 130.42M | 82.39M | 100.02M |
| Total Debt | 87.29M | 88.41M | 99.38M | 112.17M | 120.87M | 115.17M |
| Total Liabilities | 132.97M | 135.26M | 142.86M | 161.00M | 171.78M | 192.42M |
| Stockholders Equity | 1.33B | 886.09M | 561.18M | 488.73M | 486.19M | 433.49M |
Cash Flow | ||||||
| Free Cash Flow | 18.40M | 26.10M | 25.37M | 35.05M | 71.92M | 46.64M |
| Operating Cash Flow | 18.42M | 26.12M | 27.95M | 36.51M | 74.26M | 47.77M |
| Investing Cash Flow | 162.66M | 302.56M | -103.37M | 55.07M | -85.75M | -26.55M |
| Financing Cash Flow | -64.99M | -50.46M | -44.41M | -38.93M | -10.75M | 56.99M |
Altius Minerals Technical Analysis
Positive
51.77
Price Trends
50.91
Positive
47.98
Positive
41.68
Positive
Market Momentum
1.25
Negative
68.92
Neutral
85.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ALS, the sentiment is Positive. The current price of 51.77 is below the 20-day moving average (MA) of 53.36, above the 50-day MA of 50.91, and above the 200-day MA of 41.68, indicating a bullish trend. The MACD of 1.25 indicates Negative momentum. The RSI at 68.92 is Neutral, neither overbought nor oversold. The STOCH value of 85.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | C$3.24B | 9.64 | 32.43% | 0.94% | 29.24% | 188.40% | |
73 Outperform | C$1.72B | 8.25 | 39.07% | 9.17% | 36.51% | 80.51% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | C$1.81B | -45.79 | -98.76% | ― | ― | 40.74% | |
52 Neutral | C$2.78B | -34.06 | -41.36% | ― | 58.08% | 35.45% | |
47 Neutral | C$2.53B | -16.46 | -12.78% | ― | ― | -161.83% | |
46 Neutral | C$2.60B | -42.94 | -51.99% | ― | -44.13% | -12.34% |
* Basic Materials Sector Average
TSE:ALS
Altius Minerals
57.92
31.27
117.34%
TSE:NDM
Northern Dynasty Minerals
3.24
1.67
106.37%
TSE:AFM
Alphamin Resources
1.34
0.60
80.11%
TSE:USA
Americas Gold and Silver
8.52
6.32
287.27%
TSE:SGML
Sigma Lithium
23.38
17.03
268.19%
TSE:LAC
Lithium Americas Corp.
7.20
3.58
98.90%
Altius Minerals Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Altius Minerals Grows Junior Equity Portfolio and Deepens Royalty Pipeline
Positive
Apr 15, 2026
Altius Minerals reported that the market value of its junior equities and project generation portfolio rose to about $70 million at March 31, 2026, from $49.3 million at year-end 2025, supported by modest net investments and participation in finan...
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...
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.