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Altius Minerals Corp. expects to report record attributable quarterly royalty revenue of approximately CAN$21.9 million (CAN$0.53 per share) for 4Q20 ended 31 December 2020. This compares to quarterly revenues of CAN$16.2 million (CAN$0.39 per share) in 3Q20 and CAN$17.6 million (CAN$0.41 per share) in the comparable quarter in 2019. For the full year ended 31 December 2020, Altius expects to report royalty revenue of CAN$67.5 million (CAN$1.62 per share) compared to CAN$78.1 million for the year ended 31 December 2019 (CAN$1.83 per share).
4Q20 royalty revenue represents a significant rebound from levels recorded during the first three quarters of the year, benefitting primarily from stronger underlying commodity prices, a significant end-of-year dividend issuance by the Iron Ore Company of Canada (IOC) and higher tonnage-based revenue related to a greater share of ownership in its Alberta thermal coal royalty partnership.
Wednesday s analyst upgrades and downgrades - The Globe and Mail
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Tuesday s analyst upgrades and downgrades - The Globe and Mail
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
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Inside the Market’s roundup of some of today’s key analyst actions
The outlook for commodities has “significantly improved” in recent months, according to Scotia Capital analyst Orest Wowkodaw, who thinks the “risk-reward proposition for the equities remains attractive despite the impressive performance post the COVID-19 pandemic collapse in early 2020.”
“Although most of the world continues to battle the COVID-19 pandemic, the recent development of several vaccines and clarity on the governing U.S. administration has significantly improved the outlook (and sentiment) for commodities,” he said. “There is little doubt that the remarkable Chinese economic recovery beginning in Q2/20 rescued most com