Altius Minerals (TSX:ALS) just gave investors something to think about, as its stock hit a fresh 52-week high on Friday. The latest spark appears to be a combination of upbeat analyst coverage, with several firms raising their outlook on the company, and an announced dividend bump from $0.09 to $0.10 per share. With upbeat ratings and concrete improvements to shareholder returns, Altius is clearly catching the market’s attention right now.
Taking a step back, this is not a sudden move out of nowhere. Over the past year, Altius Minerals has logged a return of 21%, and momentum seems to be building, with a 16% gain in the past three months. The company’s recent annual revenue growth of 15% stands out even as net income dipped, and its push to reward shareholders with a higher dividend adds another layer to the story. All of this comes against a backdrop of surging investor optimism about mining royalties as a business model.
So,…
