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BMO Lifts Altius Minerals Price Target to $44.00 from $43.00

-- BMO Capital Markets on Wednesday reiterated its market-perform rating on the shares of Altius Minerals (ALS.TO) while raising its price target to $44.00 from $43.00 after the company reported expected first-quarter royalty revenue.

Altius' attributable royalty revenue in the first quarter slightly beat BMO's estimates. Base metals were a bit ahead, offset by weaker results in potash and electricity, BMO said.

The company's lithium results were stronger but BMO said it only incorporated the post-transaction closure revenue into its estimates.

Altius is expected to release its full first-quarter results after market close on May 12.

Price: $51.77, Change: $+1.30, Percent Change: +2.58%

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