Altius Minerals up after Scotiabank upgrades stock to 'sector outperform'

Sojitz

23/12/2024 16:00

** Shares of Canadian mining company Altius Minerals
 ALS.TO  rise as much as 2.1% to C$26.53
    ** Brokerage Scotiabank upgrades stock to "sector
outperform" from "sector perform"; raises PT to C$33 from C$27
    ** Scotiabank says the recently proposed Kami Fe project in
the Labrador Trough, of which ALS holds a 3% gross revenue
royalty claim, as "very positive" for the company's shares
    ** Also notes the royalty from the likely monetization,
post-arbitration ruling of AngloGold Ashanti's  AU.N  Silicon Au
project in Nevada, as an anticipated material catalyst for ALS's
shares over the next 12 to 18 months
    ** Five of seven brokerages rate the stock "buy" and two
"hold"; with a median PT of C$30, according to data compiled by
LSEG
    ** Including session moves, stock up 43.7% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))