08:29 AM EDT, 09/09/2024 (MT Newswires) -- Altius Renewable Royalties Corp. ( ATRWF ) on Monday said it was responding to market talk "after observing unusual price action and trading volumes in our common shares in the last week." Its stock jumped 4.4% and hit 52 week highs of $10.64 last Friday, having been at near $9.50 last Tuesday morning after the Labour Day holiday in Canada.

ARR in today's statement said it has been holding discussions with a third party about acquiring the minority shareholders' position (excluding Altius Minerals' ( ATUSF ) position) at a targeted price of C$12.00 per share. "As at the date hereof," it added, "no agreement has been reached and there can be no assurances that any agreement will be reached. ARR regularly evaluates a wide range of strategic opportunities in the ordinary course."

According to a report from Simply Wall St in May 2024, the largest shareholder of the company was Altius Minerals Corporation ( ATUSF ) with a 58% stake, while more than 20% of Altius Renewable Royalties ( ATRWF ) was held by Institutions. Simply Wall St said "significant control over Altius Renewable Royalties ( ATRWF ) by public companies implies that the general public has more power to influence management and governance-related decisions".