Canada's Altius Minerals sees record Q3 royalty revenue

Altius Minerals (AB)

Tue 12:55

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: ID:nBwlk01Na

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Attributable Royalty Revenue
 
C$33.20 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 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

Reuters Recommended Reads
Oct 19 - Europe aluminium premium could hit $1,000 if US cuts Canada tariffs, Harbor says
Oct 19 - Cleveland-Cliffs Q3 adj EPS beats on improved pricing, sales volumes
Oct 19 - Canada's Silvercorp Q2 revenue falls 13% on lower production

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)