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Altius Minerals
(TSX:ALS)
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Rating:79Outperform
Price Target:
C$72.00
▲(6.94% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by strong financial resilience (very low leverage and positive free cash flow), supported by a constructive price trend (trading above key moving averages with positive MACD). Valuation is favorable on P/E, while the latest earnings call reinforced growth expectations and strong liquidity, tempered by earnings/cash-flow variability and near-term cost/leverage pressures.
Positive Factors
Asset-light royalty model
The royalty and streaming structure lets Altius participate in mine output while operators carry most operating costs. This supports scalable cash generation and portfolio diversification as additional partner-operated assets reach production.
Negative Factors
Volatile earnings quality
Large year-to-year swings in net income indicate reported profitability may reflect non-core or non-cash items. This reduces earnings predictability and weakens confidence that headline growth will consistently translate into recurring returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-light royalty model
The royalty and streaming structure lets Altius participate in mine output while operators carry most operating costs. This supports scalable cash generation and portfolio diversification as additional partner-operated assets reach production.
Read all positive factors
Altius Minerals (ALS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.89B
Dividend Yield0.61%
Average Volume (3M)80.81K
Price to Earnings (P/E)10.5
Beta (1Y)1.35
Revenue Growth67.98%
EPS Growth198.95%
CountryCA
Employees16
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)6.40
Shares Outstanding58,748,220
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$59.67Price Target Upside-11.38% Downside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.72
Revenue Forecast (FY)C$112.00M
Altius Minerals Business Overview & Revenue Model
Company Description
Altius Minerals Corporation engages in the mineral and renewable royalties and project generation businesses in Canada, Brazil, and the United States. The company operates in three segments: Mineral Royalties, Renewable Royalties and Project Gener...
How the Company Makes Money
Altius Minerals makes money primarily through royalty-based and royalty-like cash flows tied to mineral production by operating partners. Key revenue streams generally include: (1) Royalty revenue: Altius receives payments calculated as a percenta...
Altius Minerals Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call emphasized multiple strategic achievements: record royalty revenue, strong adjusted EBITDA, successful equity raise (CAD 174M), credit facility expansion to CAD 350M, increased ownership in GBR to 50%, substantial liquidity (~CAD 500M), and positive commodity price trends (copper/nickel +~4% QoQ; lithium ~4x year-ago). These positives were balanced against higher operating expenses, nonrecurring acquisition costs, working capital and tax outflows, increased short-term leverage (CAD 100M drawdown) to fund acquisitions, and some asset-level production headwinds and commodity price volatility. Overall, management portrayed confident growth prospects—particularly in lithium and electricity royalties—while acknowledging near-term costs and market volatility.Positive Updates
Record Royalty Revenue and Strong Profitability
Q2 net earnings of CAD 8.6 million (CAD 0.16 per share); record royalty revenue of CAD 30 million and adjusted EBITDA of CAD 23 million. Adjusted net earnings were CAD 0.14 per share, higher than Q2 2025.
Negative Updates
Higher Operating Expenses and One-Time Costs
Q2 saw higher expenses versus Q2 2025, including cost of sales, G&A, share-based compensation and amortization. Adjusting items included foreign exchange, derivative revaluations and nonrecurring costs related to the LRC acquisition, which impacted adjusted results.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Royalty Revenue and Strong Profitability
Q2 net earnings of CAD 8.6 million (CAD 0.16 per share); record royalty revenue of CAD 30 million and adjusted EBITDA of CAD 23 million. Adjusted net earnings were CAD 0.14 per share, higher than Q2 2025.
Read all positive updates
Company Guidance
Guidance from the call emphasized upward revenue expectations for lithium and accelerating electricity-royalty cashflows while reinforcing a strong liquidity and capital position: management said it has revised lithium revenue estimates higher for the next several years (citing very tight inventories—below ~1 month—and industry metrics like ~3 TWh of battery shipments vs ~10 GWh sodium this year, and ~70% YoY growth in energy storage shipments), noted average lithium prices remain ~4x year‑ago levels with material sequential improvement, and reported copper and nickel quarterly average prices up ~4% vs Q1; the ARR/electricity portfolio is entering an inflection with 16 operating projects and 15 in construction (including a 311 MW Coles Wind contribution of USD 12.4M), Altius increased its effective interest in GBR from 29% to 50% (to be equity‑accounted), and the company expects growing near‑term electricity royalty revenue. Key financial and liquidity metrics cited: Q2 net earnings CAD 8.6M (CAD 0.16/share), royalty revenue CAD 30M (record), adjusted EBITDA CAD 23M, operating cash flow CAD 14M, adjusted EPS CAD 0.14; recent transactions include a bought‑deal of 3.0M shares at CAD 60.50 raising net proceeds CAD 174M, an amended revolver upsized to CAD 350M (from CAD 225M) with CAD 163M available now and a CAD 150M accordion, a CAD 100M drawdown, CAD 87M debt transferred and maturity extended to July 2030, approx. CAD 500M total liquidity, CAD 2M scheduled debt repayments in the quarter, CAD 5.2M cash dividends paid (≈7,000 shares issued under DRIP) and a Board‑approved 10% dividend increase to CAD 0.11/share; adjusting items included FX, derivative revaluations and nonrecurring LRC acquisition costs.Altius Minerals Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
77
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 64.46M | 40.53M | 37.27M | 68.96M | 102.05M | 81.68M |
| Gross Profit | 47.43M | 28.17M | 24.99M | 47.65M | 71.88M | 52.79M |
| EBITDA | 402.50M | 397.75M | 119.42M | 40.58M | 83.17M | 74.91M |
| Net Income | 297.93M | 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 | 143.45M | 294.13M | 15.91M | 130.42M | 82.39M | 100.02M |
| Total Debt | 86.40M | 88.41M | 99.38M | 112.17M | 120.87M | 115.17M |
| Total Liabilities | 127.19M | 135.26M | 142.86M | 161.00M | 171.78M | 192.42M |
| Stockholders Equity | 1.34B | 886.09M | 561.18M | 488.73M | 486.19M | 433.49M |
Cash Flow | ||||||
| Free Cash Flow | 27.32M | 26.10M | 25.37M | 35.05M | 71.92M | 46.64M |
| Operating Cash Flow | 27.34M | 26.12M | 27.95M | 36.51M | 74.26M | 47.77M |
| Investing Cash Flow | 171.19M | 302.56M | -103.37M | 55.07M | -85.75M | -26.55M |
| Financing Cash Flow | -66.19M | -50.46M | -44.41M | -38.93M | -10.75M | 56.99M |
Altius Minerals Technical Analysis
Positive
67.33
Price Trends
61.33
Positive
57.48
Positive
50.39
Positive
Market Momentum
1.70
Negative
66.24
Neutral
90.00
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 67.33 is above the 20-day moving average (MA) of 62.84, above the 50-day MA of 61.33, and above the 200-day MA of 50.39, indicating a bullish trend. The MACD of 1.70 indicates Negative momentum. The RSI at 66.24 is Neutral, neither overbought nor oversold. The STOCH value of 90.00 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | C$1.96B | 7.73 | 47.01% | 11.72% | 45.38% | 86.16% | |
79 Outperform | C$3.89B | 10.55 | 27.08% | 0.69% | 67.98% | 198.95% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | C$2.60B | -38.71 | -24.01% | ― | 86.08% | 49.18% | |
46 Neutral | C$1.91B | -51.85 | -37.53% | ― | -10.14% | 41.25% | |
45 Neutral | C$1.62B | -8.06 | -9.05% | ― | ― | -107.51% | |
44 Neutral | C$1.36B | -19.04 | -203.28% | ― | ― | 18.14% |
* Basic Materials Sector Average
TSE:ALS
Altius Minerals
67.51
38.77
134.92%
TSE:NDM
Northern Dynasty Minerals
2.45
1.19
94.44%
TSE:AFM
Alphamin Resources
1.55
0.68
77.14%
TSE:USA
Americas Gold and Silver
7.92
4.37
123.10%
TSE:SGML
Sigma Lithium
17.46
8.53
95.52%
TSE:LAC
Lithium Americas Corp.
4.40
0.33
8.11%
Altius Minerals Corporate Events
Business Operations and StrategyFinancial Disclosures
Altius Minerals Q2 Royalty Revenue Surges on Lithium and Renewables Push
Positive
Aug 10, 2026
Altius Minerals reported a sharp year-over-year increase in second-quarter 2026 results, with royalty revenue rising to $30.0 million and total revenue more than doubling to $23.2 million. Adjusted earnings climbed to $7.6 million, while adjusted ...
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.