08:54 AM EDT, 08/19/2024 (MT Newswires) -- Altius Minerals ( ATUSF ) , which hit 52 week highs last Friday, said Monday that it renewed its normal course issuer bid (NCIB) for up to 4.01% of its 46,467,476 common shares issued and outstanding as of Aug. 12.

The NCIB will commence Aug. 22 and will end no later than Aug. 21, 2025.

Under the current NCIB, Altius purchased a total of 871,100 shares at a weighted average price of $19.76 per share as of Aug. 12.

Altius said its board believes that the company's shares are undervalued and acquiring shares under the NCIB represents an appropriate use of funds.

The company's share price rose 4.4% last Friday to $22.93.