ALTIUS MINERALS CORP (OTCMKTS:ATUSF) was a massive decliner during Thursday’s trading session plummeting by close to 5% on relative high volumes, which were 3.5 times the daily average. The stock has been trending lower ever since it was unable to breach above its 200 day moving average. Altius currently trades below all daily moving averages.The indicator measuring relative strength provided a fresh sell signal indicative of the strong selling interest. The oscillator for momentum is showing no signs of strong bullish reversal. The stock hit a fresh 52 week low during the trading session, which is a bearish sign.
ALTIUS MINERALS CORP (OTCMKTS:ATUSF) announced financial results for the recently concluded quarter. As per the reports, the attributable revenue for the three-month period was $9.78 million, whereas the adjusted EBITDA was $7.14 million.
Financial & Non-Financial Highlights
Although the operational performance of the company was well in line, it couldn’t attain the profitable state. Reports claim that Altius ended the quarter with a net loss of $0.04 per share or $1.63 million for the quarter. During the same period in 2014, Altius managed to report attributable revenues worth $7.2 million, adjusted EBITDA of $5.06 million and net loss of $8.10 million.
The primary reason behind this positive trend in adjusted EBITDA and other financial figures was nothing but the revenues received from the newly acquired Voisey’s Bay ($677,000), Prairie Royalties ($5.75 million), and 777 royalty ($2.5 million). A major part of these revenues was offset by amortization cost worth $1.82 million of royalty interests, severance costs worth $1.3 million.
The senior management team of Altius is delighted to announce these financial results and hopes that ever improving market conditions will help the company to report better results in the coming months. According to Ben Lewis, CFO, Altius, the stock market presented a host of challenges in front of the company, yet it grew continuously on the back of strong royalty revenues.
After the addition of well-known 777 royalty to Altius portfolio, the number of Canadian based high-quality royalties in its portfolio has reached to 13, which cover a wide range of commodities. Moreover, the inflation-indexed x tonnage multiplier covers about 37% of the royalty revenue of the company, which is why it gets affected by movement in commodity market.
The entire senior management team is working hard to unearth many more growth opportunities that can be monetized effectively. Details regarding further attempts put in this direction will be announced from time to time.
