June 27, 2019 / 7:02 PM / a year ago

BUZZ-Cormark says Altius Minerals gaining from iron ore prices, starts with "buy"

** Cormark Securities starts coverage of Altius Minerals Corp with “buy”, sets PT at C$20

** Brokerage expects revenue to grow to about C$79 mln in 2019

** Says company is currently benefiting from strong iron ore and potash prices and will see further growth from a new copper royalty and first revenue from its renewables division late this year

** Further says revenue growth will support multiple expansion as resource and investors see Altius as a low-risk, diversified vehicle with exposure to higher commodity prices

** “Recent growth has allowed for a shift in capital allocation prioritization towards more aggressive debt reduction and increased dividends” - Cormark analysts

** Average rating of 6 analysts covering stock is “buy”; Median PT C$17.70

** Stock up 17.8% YTD (Reporting by Arundhati Sarkar in Bengaluru)

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