Royal Bank Of Canada Reiterates “C$7.00” Price Target for Algoma Steel Group (TSE:ASTL)

Algoma Steel Group (TSE:ASTL) received a C$7.00 price target from equities research analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 22.16% from the stock’s previous close.

Algoma Steel Group Trading Down 0.2%

Shares of ASTL traded down C$0.01 during trading on Tuesday, reaching C$5.73. 259,895 shares of the company traded hands, compared to its average volume of 634,188. The stock has a 50-day simple moving average of C$6.73 and a 200-day simple moving average of C$6.25. The stock has a market cap of C$603.88 million, a PE ratio of -0.56 and a beta of 1.62. Algoma Steel Group has a twelve month low of C$4.20 and a twelve month high of C$9.92. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 175.52.

Algoma Steel Group (TSE:ASTL) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C($1.46) earnings per share for the quarter. Algoma Steel Group had a negative net margin of 47.22% and a negative return on equity of 125.08%. The business had revenue of C$296.90 million during the quarter. On average, analysts anticipate that Algoma Steel Group will post 1.4795699 earnings per share for the current year.

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.