Algoma Steel Group Inc. (TSE:ASTL – Get Free Report)’s share price traded down 14.9% during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from C$13.00 to C$10.75. The stock traded as low as C$4.77 and last traded at C$4.84. 1,763,102 shares were traded during trading, an increase of 444% from the average session volume of 324,177 shares. The stock had previously closed at C$5.69.
A number of other research analysts also recently commented on the company. BMO Capital Markets downgraded Algoma Steel Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$12.00 to C$8.00 in a research note on Tuesday, June 3rd. Royal Bank Of Canada lowered their price target on Algoma Steel Group from C$10.00 to C$8.00 and set a “sector perform” rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$8.92.
View Our Latest Analysis on Algoma Steel Group
Algoma Steel Group Trading Down 13.2%
Algoma Steel Group Company Profile
Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales.
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