Friday, December 16, 2016

Altius Minerals reports earnings

Altius Minerals:

Altius Minerals Corporation reports attributable revenue(1) for the three months ended October 31, 2016 of $9,964,000 or $0.23 per share and adjusted EBITDA(2) of $6,786,000 or $0.16 per share compared to attributable revenue of $8,534,000 or $0.22 per share and adjusted EBITDA of $6,475,000 or $0.16 per share for the prior year comparable period. Year to date, the Corporation has attributable revenue of $18,374,000 (2015 - $18,319,000), adjusted EBITDA of $13,189,000 (2015 – $12,569,000) and net earnings of $3,390,000 (2015 – net loss of $1,692,000).


Revenue increased over the previous year with the addition of the Chapada copper stream which was acquired in May 2016 and higher realized prices on the Corporation’s metallurgical coal royalty. These revenue increases were partially offset by lower thermal coal volumes caused by mine sequencing, a lack of payment on the Voisey’s Bay royalty, and lower realized potash prices.

In addition, the company announced that its quarterly dividend of $.03 per share. The stock had been rallying recently but sold off on this earnings news. Longer term I continue to like what I see at Altius. If you read the conference call transcript the CEO talks about how the company took advantage of the recent bear market in resources to stock the shelves with royalties that should now bear fruit as the resource bear market dissipates. 

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