Algoma Steel Group (TSE:ASTL) Shares Up 2.7% – Still a Buy?

Algoma Steel Group Inc. (TSE:ASTL) rose 2.7% during trading on Wednesday . The company traded as high as C$6.49 and last traded at C$6.46. Approximately 391,316 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 745,658 shares. The stock had previously closed at C$6.29.

Analysts Set New Price Targets

Separately, Jefferies Financial Group set a C$6.00 price objective on Algoma Steel Group and gave the company a “hold” rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$7.88.

Algoma Steel Group Trading Up 1.5%

The company has a debt-to-equity ratio of 175.52, a quick ratio of 1.51 and a current ratio of 2.18. The business has a fifty day simple moving average of C$6.03 and a 200 day simple moving average of C$5.85. The stock has a market capitalization of C$648.49 million, a price-to-earnings ratio of -0.68 and a beta of 1.39.

Algoma Steel Group (TSE:ASTL) last issued its quarterly earnings data on Wednesday, March 11th. The company reported C($3.36) EPS for the quarter. Algoma Steel Group had a negative net margin of 47.22% and a negative return on equity of 125.08%. The firm had revenue of C$455.00 million during the quarter. As a group, research analysts expect that Algoma Steel Group Inc. will post 1.4795699 EPS 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.