Algoma Steel Group (TSE:ASTL) PT Set at C$6.00 by Royal Bank Of Canada

Algoma Steel Group (TSE:ASTL – Get Free Report) received a C$6.00 target price from research analysts at Royal Bank Of Canada in a report released on Wednesday, BayStreet reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential downside of 1.15% from the company’s current price.

Separately, BMO Capital Markets cut 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 report 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’s stock. According to data from MarketBeat, Algoma Steel Group presently has a consensus rating of “Hold” and an average target price of C$7.38.

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Algoma Steel Group Trading Up 5.6%

ASTL stock traded up C$0.32 during trading on Wednesday, reaching C$6.07. 608,787 shares of the stock traded hands, compared to its average volume of 641,739. The firm has a market capitalization of C$639.71 million, a PE ratio of -0.60 and a beta of 1.74. The company has a debt-to-equity ratio of 368.00, a current ratio of 2.49 and a quick ratio of 1.50. The business’s 50 day moving average price is C$5.73 and its 200-day moving average price is C$6.16. Algoma Steel Group has a 52-week low of C$4.20 and a 52-week high of C$8.16.

Algoma Steel Group (TSE:ASTL – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.88) EPS for the quarter. Algoma Steel Group had a negative return on equity of 180.34% and a negative net margin of 55.02%.The firm had revenue of C$267.50 million during the quarter. As a group, sell-side analysts forecast that Algoma Steel Group will post 1.4795699 earnings per share for the current year.

Algoma Steel Group Company Profile

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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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