Altius Renewable Royalties (TSE:ARR) Hits New 1-Year High – Here’s Why

Altius Renewable Royalties Corp. (TSE:ARR)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$11.85 and last traded at C$11.85, with a volume of 1512 shares changing hands. The stock had previously closed at C$11.82.

Analyst Ratings Changes

ARR has been the topic of a number of recent research reports. Ventum Financial lifted their target price on Altius Renewable Royalties from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Raymond James lifted their target price on shares of Altius Renewable Royalties from C$25.00 to C$26.50 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Finally, TD Securities downgraded shares of Altius Renewable Royalties from a “buy” rating to a “sell” rating and reduced their price target for the company from C$13.00 to C$12.00 in a research report on Friday, September 13th.

Altius Renewable Royalties Price Performance

The company has a current ratio of 250.01, a quick ratio of 102.67 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of C$10.04 and a 200 day simple moving average of C$9.26. The stock has a market capitalization of C$364.86 million, a price-to-earnings ratio of -148.13 and a beta of 0.89.

Altius Renewable Royalties (TSE:ARR) last posted its quarterly earnings results on Monday, August 5th. The company reported C($0.03) EPS for the quarter. The company had revenue of C$1.22 million for the quarter, compared to analyst estimates of C$1.31 million. Altius Renewable Royalties had a negative return on equity of 0.83% and a negative net margin of 206.69%. On average, equities research analysts forecast that Altius Renewable Royalties Corp. will post 0.1215367 EPS for the current fiscal year.

Altius Renewable Royalties Company Profile

Altius Renewable Royalties Corp., a renewable energy royalty company, engages in the acquisition and management of renewable energy investments and royalties in North America. The company holds interests in a portfolio of 2,068 MW of operational wind, solar, and hydroelectric projects located in Texas, Kansas, California, and Vermont.