Algoma Steel Group (TSE:ASTL) Price Target Lowered to C$5.00 at Royal Bank Of Canada

Algoma Steel Group (TSE:ASTL) had its target price decreased by analysts at Royal Bank Of Canada from C$6.00 to C$5.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential downside of 7.24% from the stock’s current price.

Separately, BMO Capital Markets dropped their price objective 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 research note on Friday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$7.12.

Algoma Steel Group Stock Up 0.7%

Shares of ASTL stock traded up C$0.04 on Friday, hitting C$5.39. The stock had a trading volume of 672,805 shares, compared to its average volume of 623,023. Algoma Steel Group has a one year low of C$4.20 and a one year high of C$8.16. The business has a 50 day moving average price of C$6.20 and a 200 day moving average price of C$6.20. The company has a market cap of C$568.05 million, a PE ratio of -0.52 and a beta of 1.77. The company has a quick ratio of 1.50, a current ratio of 2.18 and a debt-to-equity ratio of 175.52.

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