Algoma Steel Group (TSE:ASTL) Shares Down 12.7% – What’s Next?

Shares of Algoma Steel Group Inc. (TSE:ASTL) were down 12.7% during mid-day trading on Thursday . The company traded as low as C$5.16 and last traded at C$5.21. Approximately 774,986 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 617,433 shares. The stock had previously closed at C$5.97.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada set a C$7.00 target price on Algoma Steel Group and gave the company a “sector perform” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Algoma Steel Group presently has an average rating of “Hold” and a consensus price target of C$8.17.

Algoma Steel Group Price Performance

The business’s 50-day simple moving average is C$6.22 and its 200 day simple moving average is C$6.21. The company has a market capitalization of C$549.08 million, a P/E ratio of -0.51 and a beta of 1.77. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 175.52.

Algoma Steel Group (TSE:ASTL) last announced its earnings results on Wednesday, July 29th. The company reported C($0.88) EPS for the quarter. The firm had revenue of C$267.50 million for the quarter. Algoma Steel Group had a negative return on equity of 125.08% and a negative net margin of 47.22%. As a group, sell-side analysts anticipate that Algoma Steel Group Inc. will post 1.4795699 EPS for the current year.

About Algoma Steel Group

Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defence, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada. With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada.