Algoma Steel Group (TSE:ASTL) Releases Earnings Results

Algoma Steel Group (TSE:ASTL) announced its earnings results on Wednesday. The company reported C($3.36) earnings per share for the quarter, FiscalAI reports. Algoma Steel Group had a negative return on equity of 53.24% and a negative net margin of 30.92%.The company had revenue of C$455.00 million during the quarter.

Algoma Steel Group Price Performance

Algoma Steel Group stock opened at C$5.90 on Thursday. The business’s 50-day simple moving average is C$6.15 and its 200 day simple moving average is C$5.91. 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 stock has a market cap of C$619.11 million, a price-to-earnings ratio of -4.07 and a beta of 1.46. Algoma Steel Group has a 12-month low of C$4.20 and a 12-month high of C$9.92.

Analysts Set New Price Targets

Separately, Jefferies Financial Group set a C$6.00 price target on shares of Algoma Steel Group and gave the company a “hold” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$7.88.

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.