Canada's Altius Minerals Q3 royalty revenue rises on electricity, lithium gains
Overview
Canada royalty asset manager's Q3 royalty revenue rose yr/yr, net earnings fell from prior-year high
Adjusted net earnings per share rose to C$0.18 from C$0.17 a year earlier
Company completed C$181.5 mln equity offering and expanded credit facility to C$350 mln
Outlook
Company did not provide specific financial guidance for the current or future periods in its press release
Result Drivers
ELECTRICITY ROYALTIES - Co said higher realized prices and revenue from new and existing electricity royalty projects boosted Q3 royalty revenue
LITHIUM ROYALTIES - Addition of four operating lithium royalties contributed to higher Q3 royalty revenue
POTASH SALES - Strong potash sales and production at royalty mines supported Q3 royalty revenue, with operators reporting continued strong demand
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted Net Income | Miss | C$10.60 mln | C$12 mln (1 Analyst) |
Q3 Net Income | C$10.10 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialty mining & metals peer group is "buy"
Wall Street's median 12-month price target for Altius Minerals Corp (AB) is C$69.00, about 27.4% above its November 9 closing price of C$54.18
The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 57 three months ago
Reuters Recommended Reads
Nov 9 - Canada's Strathcona Resources Q3 production rises sequentially, raises quarterly dividend
Nov 10 - Canada's Discovery Mining Q3 revenue rises 57% on gold output, prices
Nov 9 - Barrick Mining Q3 revenue rises 22% on higher gold prices
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)