Posted by admin on Aug 8th, 2022

Algoma Steel Group (TSE:ASTL – Get Rating) had its target price decreased by Stifel Nicolaus from C$16.00 to C$14.50 in a research note issued to investors on Saturday, BayStreet.CA reports. Stifel Nicolaus’ price objective would indicate a potential upside of 18.76% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ASTL. BMO Capital Markets reduced their target price on Algoma Steel Group from C$23.00 to C$18.00 in a report on Thursday, May 19th. Cormark dropped their target price on Algoma Steel Group to C$19.00 in a research report on Friday.

Shares of TSE ASTL opened at C$12.21 on Friday. The company has a current ratio of 3.57, a quick ratio of 2.44 and a debt-to-equity ratio of 6.39. The business has a fifty day simple moving average of C$11.87 and a 200 day simple moving average of C$12.24. Algoma Steel Group has a one year low of C$10.04 and a one year high of C$17.27. The firm has a market capitalization of C$1.29 billion and a price-to-earnings ratio of 1.58.

Algoma Steel Group Inc produces and sells steel products primarily in North America. It provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.

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