Canada's Altius Minerals sees record Q3 royalty revenue

Overview

• Canada diversified royalty firm's preliminary Q3 attributable royalty revenue rises to record C$33.2 mln

• Electricity royalty revenue surged due to increased ownership and project ramp-up

• Base metals revenue rose on higher prices, offset by timing of copper deliveries and maintenance

Result Drivers

• ELECTRICITY ROYALTIES - Surge in electricity royalty revenue driven by increased ownership in Altius Renewable Royalties and ramp-up of portfolio projects

• BASE METALS - Revenue rose on higher realized prices, but was partly offset by timing of copper stream deliveries and scheduled maintenance at Voiseys Bay

• LITHIUM - Revenue increased due to operational ramp-ups and mining resumptions, but was limited by lower prices and reduced production at certain mines

Company press release:

Key Details

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 24.5% above its October 19 closing price of C$55.40

• The stock recently traded at 53 times the next 12-month earnings vs. a P/E of 69 three months ago

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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.)