BMO Capital, Canaccord Raise Altius Minerals Price Target - Read Why - Altius Minerals (OTC:ATUSF)

BMO Capital analyst Rene Cartier raised the price target for Altius Minerals Corp ALS ATUSF to C$23 from C$22 while maintaining the Market Perform rating on the shares.
The target price was increased as the analyst raised multiples to align more closely with royalty/streaming peers.
The analyst states that ALS delivered slightly better-than-expected 1Q22 attributable royalty revenue.
Cartier mentions that the thermal coal and potash divisions primarily drove the strength in the results. Iron ore was in line, while base metals and renewables were below expectations.
The analyst believes Altius provides investors with diversified risk exposure concentrated on basic metals and bulk commodities via the royalty and streaming strategy. However, with the rebound and current strength in Altius' portfolio's underlying commodities, the company has already shown a meaningful re-rating. It is trading at or near the upper end of its historical multiple trading ranges.
ALS plans to release its full 1Q22 results on May 10.
Canaccord analyst Carey MacRury also raised the price target for Altius Minerals to C$28 from C$27 while maintaining the Buy rating on the shares.
Price Action: ALS shares are trading lower by 1.35% at C$24.79 on TSX, and ATUSF is lower by 0.01% at $19.87 on the last check Wednesday.