Altius Minerals Q1 Royalty Revenue Soars 79% to $26.8M; Target Raised to C$57
Scotiabank raised its price target for Altius Minerals from C$50 to C$57 after Q1 2026 royalty revenue surged to $26.8 million from $15.0 million a year earlier. Growth was driven by higher prices, copper stream deliveries and four new lithium royalties, alongside a $4.1 million TNR Gold investment.
1. Q1 2026 Revenue Surge
Altius posted attributable royalty revenue of $26.8 million in Q1 2026, a 79% increase from $15.0 million in Q1 2025, driven by higher commodity prices and copper stream deliveries. Adjusted earnings reached $5.4 million for the quarter.
2. Analyst Price Target Hike
Scotiabank maintained a Sector Perform rating and raised its price target from C$50 to C$57, reflecting improved financial results and stronger commodity markets. The updated target implies potential upside relative to current trading levels.
3. Strategic Investments and Royalties
The company invested $4.1 million in TNR Gold to support exploration and added four lithium royalties, positioning itself for growth in high-demand battery metals. These strategic moves diversify the royalty portfolio and enhance future revenue streams.