Shares of Algoma Steel Group Inc. (TSE:ASTL – Get Free Report) were down 10.3% during mid-day trading on Monday . The company traded as low as C$5.60 and last traded at C$5.74. 687,644 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 642,830 shares. The stock had previously closed at C$6.40.
Wall Street Analyst Weigh In
A number of analysts recently commented on ASTL shares. BMO Capital Markets reduced their price objective on Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating for the company in a research report on Friday, July 31st. Royal Bank Of Canada dropped their target price on Algoma Steel Group from C$6.00 to C$5.00 and set a “sector perform” rating on the stock in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$7.12.
Get Our Latest Stock Report on Algoma Steel Group
Algoma Steel Group Stock Down 10.6%
Algoma Steel Group (TSE:ASTL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.88) earnings per share (EPS) for the quarter. The business had revenue of C$267.50 million for the quarter. Algoma Steel Group had a negative net margin of 55.02% and a negative return on equity of 180.34%. As a group, research analysts expect that Algoma Steel Group Inc. will post 1.4795699 earnings per share 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.
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