BMO Capital Markets Lowers Algoma Steel Group (TSE:ASTL) Price Target to C$12.00

Algoma Steel Group (TSE:ASTL) had its price objective lowered by BMO Capital Markets from C$14.00 to C$12.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 86.34% from the stock’s previous close.

Separately, Stifel Nicolaus cut their target price on Algoma Steel Group from C$21.00 to C$15.25 and set a “buy” rating on the stock in a research report on Friday, March 14th.

Algoma Steel Group Trading Down 7.1 %

Shares of ASTL opened at C$6.44 on Wednesday. Algoma Steel Group has a fifty-two week low of C$5.91 and a fifty-two week high of C$16.83. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31. The company’s fifty day moving average is C$9.39 and its 200 day moving average is C$12.32. The stock has a market capitalization of C$668.92 million, a PE ratio of -4.42 and a beta of 1.50.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company 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.