Algoma Steel Group (TSE:ASTL) Given a C$8.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a C$8.00 price target on Algoma Steel Group (TSE:ASTL) in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also weighed in on ASTL. BMO Capital Markets dropped their price target on Algoma Steel Group from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Stifel Nicolaus dropped their target price on shares of Algoma Steel Group from C$15.25 to C$14.75 and set a “hold” rating on the stock in a report on Thursday, April 17th.

Algoma Steel Group Stock Performance

Shares of ASTL opened at C$6.73 on Tuesday. Algoma Steel Group has a one year low of C$5.91 and a one year high of C$16.83. The company has a 50-day simple moving average of C$8.55 and a two-hundred day simple moving average of C$11.93. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The firm has a market capitalization of C$699.05 million, a PE ratio of -4.62 and a beta of 1.50.

Algoma Steel Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th were given a $0.05 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.97%. Algoma Steel Group’s dividend payout ratio is currently -18.53%.

Algoma Steel Group Company Profile

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.