Algoma Steel Group (TSE:ASTL) Price Target Lowered to C$6.00 at BMO Capital Markets

Algoma Steel Group (TSE:ASTL) had its target price cut by research analysts at BMO Capital Markets from C$7.00 to C$6.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 11.32% from the stock’s previous close.

Separately, Royal Bank Of Canada set a C$7.00 target price on Algoma Steel Group and gave the stock a “sector perform” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$7.12.

Algoma Steel Group Stock Up 0.7%

Shares of ASTL stock traded up C$0.04 during trading hours on Friday, hitting C$5.39. 672,805 shares of the company’s stock traded hands, compared to its average volume of 623,023. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 175.52. The stock’s fifty day simple moving average is C$6.20 and its two-hundred day simple moving average is C$6.20. Algoma Steel Group has a 12-month low of C$4.20 and a 12-month high of C$8.16. The stock has a market cap of C$568.05 million, a price-to-earnings ratio of -0.52 and a beta of 1.77.

Algoma Steel Group (TSE:ASTL) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C($0.88) earnings per share for the quarter. Algoma Steel Group had a negative return on equity of 125.08% and a negative net margin of 47.22%.The company had revenue of C$267.50 million during the quarter. On average, analysts expect that Algoma Steel Group will post 1.4795699 EPS for the current year.

Algoma Steel Group Company Profile

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.