Algoma Steel Group (TSE:ASTL) Stock Price Down 0.8% – Time to Sell?

Algoma Steel Group Inc. (TSE:ASTL)’s stock price dropped 0.8% during trading on Monday . The stock traded as low as C$5.67 and last traded at C$5.92. Approximately 682,393 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 780,519 shares. The stock had previously closed at C$5.97.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group set a C$6.00 price objective on shares of Algoma Steel Group and gave the company a “hold” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$7.88.

Algoma Steel Group Stock Performance

The stock has a market cap of C$621.21 million, a price-to-earnings ratio of -4.08 and a beta of 1.46. The company has a quick ratio of 1.51, a current ratio of 2.29 and a debt-to-equity ratio of 85.10. The company has a 50 day simple moving average of C$6.14 and a 200 day simple moving average of C$5.92.

About Algoma Steel Group

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. Substantial revenue is generated from the sale of Steel sheets and strips.