Algoma Steel Group (TSE:ASTL) PT Lowered to C$17.00 at Cormark

Algoma Steel Group (TSE:ASTL) had its price objective trimmed by Cormark from C$17.50 to C$17.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on ASTL. Beacon Securities cut Algoma Steel Group from a buy rating to a hold rating and increased their price target for the stock from C$11.00 to C$14.00 in a report on Tuesday, January 2nd. BMO Capital Markets cut their price target on Algoma Steel Group from C$16.00 to C$15.00 and set an outperform rating on the stock in a report on Wednesday, January 24th. Finally, Stifel Nicolaus increased their price target on Algoma Steel Group from C$15.25 to C$16.00 in a report on Wednesday, March 13th.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at C$11.55 on Tuesday. The business’s 50 day simple moving average is C$11.08 and its 200 day simple moving average is C$10.82. Algoma Steel Group has a one year low of C$8.64 and a one year high of C$13.54. The stock has a market capitalization of C$1.20 billion, a PE ratio of 18.05 and a beta of 1.52. The company has a debt-to-equity ratio of 10.83, a current ratio of 2.88 and a quick ratio of 1.51.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 29th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio is presently 42.19%.

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.