Algoma Steel Group (TSE:ASTL) Trading Up 4% – Should You Buy?

Shares of Algoma Steel Group Inc. (TSE:ASTL) were up 4% during trading on Tuesday . The stock traded as high as C$5.82 and last traded at C$5.74. Approximately 657,069 shares were traded during trading, a decline of 17% from the average daily volume of 795,205 shares. The stock had previously closed at C$5.52.

Analysts Set New Price Targets

Separately, Jefferies Financial Group set a C$6.00 price target on shares of Algoma Steel Group and gave the company a “hold” rating in a research note on Monday, January 5th. One investment 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 company presently has an average rating of “Hold” and an average target price of C$7.88.

Algoma Steel Group Price Performance

The company has a current ratio of 2.18, a quick ratio of 1.51 and a debt-to-equity ratio of 186.70. The company has a 50 day moving average of C$5.97 and a 200-day moving average of C$5.76. The firm has a market capitalization of C$605.47 million, a P/E ratio of -0.64 and a beta of 1.46.

Algoma Steel Group (TSE:ASTL) last posted its quarterly earnings data on Wednesday, March 11th. The company reported C($3.36) earnings per share for the quarter. Algoma Steel Group had a negative return on equity of 95.12% and a negative net margin of 47.22%.The firm had revenue of C$455.00 million for the quarter. On average, sell-side analysts predict that Algoma Steel Group Inc. will post 1.4795699 EPS for the current year.

Algoma Steel Group Company Profile

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.