Stifel Nicolaus Issues Positive Forecast for Algoma Steel Group (TSE:ASTL) Stock Price

Algoma Steel Group (TSE:ASTL) had its price target hoisted by Stifel Nicolaus from C$10.75 to C$11.50 in a research note published on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Royal Bank Of Canada reduced their price objective on Algoma Steel Group from C$8.00 to C$6.00 and set a “sector perform” rating for the company in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$8.50.

Algoma Steel Group Price Performance

Shares of TSE ASTL opened at C$5.11 on Tuesday. Algoma Steel Group has a twelve month low of C$4.20 and a twelve month high of C$16.83. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. The company has a market capitalization of C$536.21 million, a price-to-earnings ratio of -3.52 and a beta of 1.59. The business has a 50 day simple moving average of C$6.28 and a 200-day simple moving average of C$7.46.

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.