Algoma Steel Group (TSE:ASTL) Upgraded by Stifel Nicolaus to Buy

Stifel Nicolaus upgraded shares of Algoma Steel Group (TSE:ASTLGet Rating) from a hold rating to a buy rating in a research note published on Wednesday morning, BayStreet.CA reports. Stifel Nicolaus currently has C$15.00 target price on the stock, up from their previous target price of C$10.75.

Several other equities analysts have also weighed in on ASTL. Cormark cut their price objective on shares of Algoma Steel Group from C$19.00 to C$16.50 in a research report on Wednesday, September 28th. Eight Capital dropped their price target on shares of Algoma Steel Group from C$15.75 to C$14.00 in a research report on Wednesday, November 9th. Finally, BMO Capital Markets dropped their price target on shares of Algoma Steel Group from C$14.00 to C$11.00 in a research report on Tuesday, January 10th.

Algoma Steel Group Price Performance

Shares of ASTL opened at C$9.14 on Wednesday. The firm has a market cap of C$949.23 million and a PE ratio of 1.38. The firm’s 50 day moving average price is C$8.58 and its 200 day moving average price is C$10.12. The company has a debt-to-equity ratio of 7.10, a quick ratio of 1.51 and a current ratio of 3.57. Algoma Steel Group has a twelve month low of C$7.70 and a twelve month high of C$15.69.

Algoma Steel Group Company Profile

(Get Rating)

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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