Canadian mineral royalty company Altius Minerals issued a preliminary forecast for its second-quarter 2026 results on Monday, projecting that quarterly attributable revenue will reach a historical high, primarily driven by a significant increase in royalty income from its core portfolio.

In a news release, Altius stated it expects second-quarter revenue to be approximately C$42 million, a rise of about 35% compared to C$31 million in the same period last year. The company attributed the strong performance to sustained high commodity prices for iron ore, copper, and uranium, alongside continued growth in royalties from its renewable energy project portfolio.

The company's business model involves acquiring and holding royalty interests on mineral projects, allowing it to share in the future revenue from production without bearing the direct costs of mining operations and capital expenditures. Altius currently holds over 100 royalty assets globally, spanning sectors such as base metals, precious metals, clean energy materials, and agricultural inputs.

Iron ore prices averaged above US$120 per tonne during the second quarter, an increase of approximately 18% year-over-year, supporting the company's royalty revenue from its iron ore projects in Canada's Labrador region. Copper prices also remained robust, benefiting from global investment in power infrastructure and electric vehicle demand, with the LME copper futures average price exceeding US$10,200 per tonne for the quarter.

Altius's renewable energy royalty portfolio contributed a notable portion of the revenue growth. The company holds royalty interests in wind power projects across multiple U.S. locations, with revenue from this segment increasing by more than 40% year-over-year, driven by adjustments to power purchase agreement prices and higher power generation.

The company's Chief Executive Officer stated in a release that the record second-quarter results demonstrate the resilience of Altius's diversified portfolio, with demand for essential resources remaining solid even amid heightened economic uncertainty. He also emphasized that the company is actively evaluating new acquisition opportunities, particularly in critical minerals for the energy transition.

Altius also confirmed its financial position remains healthy, with cash and cash equivalents of approximately C$210 million as of the end of the second quarter and no significant debt burden, providing flexible capacity for future acquisitions of royalty assets.

Altius is scheduled to release its complete second-quarter financial report on July 30, which will include detailed revenue breakdowns for its various business segments. Bolstered by the positive preliminary results, Altius's share price rose around 4% during Monday's trading on the Toronto Stock Exchange.