BMO Capital Markets Increases Algoma Steel Group (TSE:ASTL) Price Target to C$15.00

Algoma Steel Group (TSE:ASTL) had its price target upped by BMO Capital Markets from C$13.00 to C$15.00 in a research note released on Thursday, BayStreet.CA reports.

Several other research firms also recently weighed in on ASTL. Cormark increased their price target on Algoma Steel Group from C$14.50 to C$18.75 in a research note on Monday, July 22nd. Stifel Nicolaus increased their price target on Algoma Steel Group from C$16.00 to C$19.00 in a research note on Thursday.

Algoma Steel Group Stock Performance

Shares of ASTL stock traded down C$0.16 on Thursday, hitting C$13.51. 25,656 shares of the stock were exchanged, compared to its average volume of 54,066. The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.09. The firm has a market capitalization of C$1.41 billion, a PE ratio of -62.14 and a beta of 1.48. Algoma Steel Group has a one year low of C$8.71 and a one year high of C$13.95. The firm’s 50 day moving average is C$10.97 and its two-hundred day moving average is C$10.93.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 19th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.20 annualized dividend and a dividend yield of 1.48%. Algoma Steel Group’s payout ratio is currently -122.73%.

About Algoma Steel Group

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.