Altius ups royalty revenue, EBITDA and earnings in Q1 2021
(Kitco News) - Altius Minerals (TSX: ALS; OTCQX: ATUSF) yesterday reported an attributable royalty revenue of $17.8 million ($0.43 per share) for the quarter ended March 31, 2021 which was up 9% from royalty revenue of $16.3 million ($0.39 per share) reported in Q1 2020.
Adjusted EBITDA for the quarter was $14.6 million or $0.35 per share, up 15% from adjusted EBITDA of $12.7 million ($0.30 per share) in Q1 2020. The adjusted EBITDA margin for the quarter was 82%.
Adjusted operating cash flow of $8.8 million or $0.21 per share was down by 33% from the comparable quarter last year mainly because of the deferred timing of corporate tax installments during the prior year period.
Net earnings in Q1 2021 were $11.8 million, and on an adjusted basis are $6.3 million or $0.14 per share compared to $3.4 million or $0.08 per share of adjusted earnings in Q1 2020.
The company has also announced that its board of directors has declared a cash dividend of five cents per common share payable to all shareholders of record at the close of business on May 31, 2021.
Altius holds a diversified portfolio of royalty assets including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash.