11:07 AM EDT, 03/12/2024 (MT Newswires) -- National Bank of Canada said Tuesday that Altius Minerals Corp. ( ATUSF ) 's adjusted EPS of $0.06 in the fourth quarter of 2023 beat the bank's estimate of $0.04 but matched the consensus forecast due to lower-than-expected interest and tax expenses.

Adjusted EBITDA of $9.8 million beat the bank's forecast of $9.0 million but missed the consensus estimate of $11.4 million.

National Bank expects Altius shares to trade in line with peers as the company's positive tone on stabilization of potash prices and commentary on increased shipments by Nutrien Ltd. (NTR.TO) should offset the impact of EBITDA being below consensus estimates.

The bank gave Altius an outperform rating with a $23.00 price target.

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