Stifel Nicolaus Lowers Algoma Steel Group (TSE:ASTL) Price Target to C$10.75

Algoma Steel Group (TSE:ASTL) had its price target reduced by Stifel Nicolaus from C$13.00 to C$10.75 in a report released on Tuesday morning,BayStreet.CA reports.

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada lowered their price target on shares of Algoma Steel Group from C$10.00 to C$8.00 and set a “sector perform” rating on the stock in a report on Thursday, July 31st. BMO Capital Markets downgraded Algoma Steel Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from C$12.00 to C$8.00 in a research report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Algoma Steel Group has a consensus rating of “Hold” and an average price target of C$8.25.

Algoma Steel Group Trading Down 5.5%

Shares of TSE:ASTL opened at C$4.47 on Tuesday. Algoma Steel Group has a 52-week low of C$4.20 and a 52-week high of C$16.83. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31. The company has a market capitalization of C$469.05 million, a P/E ratio of -3.08 and a beta of 2.07. The company has a 50-day simple moving average of C$6.48 and a 200 day simple moving average of C$7.56.

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.