Algoma Steel Group (TSE:ASTL) Sets New 52-Week Low – Time to Sell?

Shares of Algoma Steel Group Inc. (TSE:ASTL) hit a new 52-week low on Thursday . The stock traded as low as C$7.53 and last traded at C$7.53, with a volume of 113528 shares trading hands. The stock had previously closed at C$8.03.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut their price objective on shares of Algoma Steel Group from C$21.00 to C$15.25 and set a “buy” rating for the company in a research report on Friday, March 14th.

Algoma Steel Group Price Performance

The company has a market cap of C$692.81 million, a PE ratio of -4.58 and a beta of 1.50. The business’s 50 day moving average price is C$10.06 and its 200-day moving average price is C$12.62. The company has a quick ratio of 1.51, a current ratio of 3.31 and a debt-to-equity ratio of 43.70.

Algoma Steel Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th will be paid a $0.05 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.00%. Algoma Steel Group’s dividend payout ratio (DPR) is presently -18.53%.

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.