Algoma Steel Group (TSE:ASTL) Issues Earnings Results

Algoma Steel Group (TSE:ASTL) released its quarterly earnings data on Wednesday. The company reported C($1.18) EPS for the quarter, FiscalAI reports. Algoma Steel Group had a negative return on equity of 180.34% and a negative net margin of 55.02%. The company had revenue of C$249.40 million during the quarter.

Algoma Steel Group Price Performance

Shares of TSE:ASTL opened at C$6.94 on Thursday. The firm has a market cap of C$731.40 million, a price-to-earnings ratio of -0.68 and a beta of 1.74. The business has a 50-day simple moving average of C$6.08 and a two-hundred day simple moving average of C$6.15. Algoma Steel Group has a fifty-two week low of C$4.46 and a fifty-two week high of C$8.16. The company has a debt-to-equity ratio of 368.00, a quick ratio of 1.50 and a current ratio of 2.49.

Analyst Ratings Changes

A number of research firms recently commented on ASTL. BMO Capital Markets lowered their price target on shares of Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating for the company in a report on Friday, July 31st. Royal Bank Of Canada set a C$6.00 price target on Algoma Steel Group and gave the company a “sector perform” rating in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Algoma Steel Group presently has a consensus rating of “Hold” and a consensus target price of C$6.00.

About Algoma Steel Group

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.