Royal Bank Of Canada Lowers Algoma Steel Group (TSE:ASTL) Price Target to C$6.00

Algoma Steel Group (TSE:ASTL) had its price objective cut by Royal Bank Of Canada from C$8.00 to C$6.00 in a report issued on Thursday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Separately, Stifel Nicolaus dropped their price target on Algoma Steel Group from C$13.00 to C$10.75 in a research note on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$8.25.

Algoma Steel Group Stock Up 3.4%

ASTL stock opened at C$4.62 on Thursday. The company has a market cap of C$484.80 million, a PE ratio of -3.19 and a beta of 2.07. The business has a 50-day simple moving average of C$6.41 and a 200 day simple moving average of C$7.52. 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 quick ratio of 1.51, a current ratio of 3.31 and a debt-to-equity ratio of 43.70.

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.