Algoma Steel Group (TSE:ASTL) Reaches New 12-Month Low After Analyst Downgrade

Algoma Steel Group Inc. (TSE:ASTL) shares hit a new 52-week low during trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$14.00 to C$12.00. BMO Capital Markets currently has an outperform rating on the stock. Algoma Steel Group traded as low as C$6.06 and last traded at C$6.16, with a volume of 304490 shares traded. The stock had previously closed at C$6.79.

Separately, Stifel Nicolaus dropped their price target on shares of Algoma Steel Group from C$21.00 to C$15.25 and set a “buy” rating on the stock in a research note on Friday, March 14th.

Algoma Steel Group Price Performance

The firm has a market capitalization of C$668.92 million, a PE ratio of -4.42 and a beta of 1.50. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The firm has a 50-day simple moving average of C$9.39 and a 200-day simple moving average of C$12.32.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, April 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.20 annualized dividend and a yield of 3.11%. Algoma Steel Group’s payout ratio is presently -18.53%.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.