Algoma Steel Group (TSE:ASTL) Trading Down 5.5% – Should You Sell?

Algoma Steel Group Inc. (TSE:ASTL) traded down 5.5% during mid-day trading on Monday . The stock traded as low as C$5.80 and last traded at C$5.87. 1,593,916 shares traded hands during trading, an increase of 146% from the average session volume of 646,733 shares. The stock had previously closed at C$6.21.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada cut their price target on shares of Algoma Steel Group from C$8.00 to C$6.00 and set a “sector perform” rating on the stock in a report on Thursday, October 2nd. Jefferies Financial Group set a C$6.00 price target on Algoma Steel Group and gave the stock a “hold” rating in a research report on Monday, January 5th. Finally, Stifel Nicolaus upped their price target on Algoma Steel Group from C$10.75 to C$11.50 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Algoma Steel Group presently has a consensus rating of “Hold” and an average price target of C$7.88.

Algoma Steel Group Price Performance

The stock has a market capitalization of C$615.96 million, a P/E ratio of -4.05 and a beta of 1.75. The company’s 50 day simple moving average is C$5.74 and its two-hundred day simple moving average is C$6.21. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51.

Algoma Steel Group (TSE:ASTL) last posted its quarterly earnings data on Wednesday, October 29th. The company reported C($4.46) earnings per share (EPS) for the quarter. The firm had revenue of C$523.90 million for the quarter. Algoma Steel Group had a negative return on equity of 10.66% and a negative net margin of 6.33%. As a group, equities analysts expect that Algoma Steel Group Inc. will post 1.4795699 EPS for the current fiscal year.

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