Royal Bank Of Canada Analysts Give Algoma Steel Group (TSE:ASTL) a C$6.00 Price Target

Royal Bank Of Canada set a C$6.00 target price on Algoma Steel Group (TSE:ASTL) in a research note released on Wednesday morning,BayStreet reports. The brokerage currently has a sector perform rating on the stock.

Separately, BMO Capital Markets lowered their price target on shares of Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating on the stock in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Algoma Steel Group currently has a consensus rating of “Hold” and a consensus price target of C$7.38.

Algoma Steel Group Price Performance

TSE ASTL opened at C$6.51 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.49 and a debt-to-equity ratio of 368.00. Algoma Steel Group has a 12-month low of C$4.20 and a 12-month high of C$8.16. The company has a market capitalization of C$686.08 million, a PE ratio of -0.64 and a beta of 1.74. The firm’s 50 day moving average is C$5.75 and its 200-day moving average is C$6.16.

Algoma Steel Group (TSE:ASTL) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($0.88) EPS for the quarter. The business had revenue of C$267.50 million during the quarter. Algoma Steel Group had a negative return on equity of 180.34% and a negative net margin of 55.02%. Equities research analysts anticipate that Algoma Steel Group will post 1.4795699 earnings per share for the current fiscal year.

Algoma Steel Group Company Profile

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.