Algoma Steel Group (TSE:ASTL) Given a C$6.00 Price Target at Jefferies Financial Group

Algoma Steel Group (TSE:ASTL) has been assigned a C$6.00 target price by analysts at Jefferies Financial Group in a report issued on Monday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 8.89% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Algoma Steel Group from C$10.75 to C$11.50 and gave the company a “buy” rating in a report on Tuesday, October 7th. Royal Bank Of Canada reduced their price target on Algoma Steel Group from C$8.00 to C$6.00 and set a “sector perform” rating for the company in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$7.88.

Algoma Steel Group Price Performance

Shares of ASTL stock traded up C$0.12 during trading hours on Monday, reaching C$5.51. 248,001 shares of the company were exchanged, compared to its average volume of 474,373. Algoma Steel Group has a fifty-two week low of C$4.20 and a fifty-two week high of C$13.03. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The stock’s fifty day moving average is C$5.60 and its two-hundred day moving average is C$6.60. The company has a market cap of C$578.19 million, a price-to-earnings ratio of -3.80 and a beta of 1.75.

Algoma Steel Group (TSE:ASTL) last released its earnings results on Wednesday, October 29th. The company reported C($4.46) EPS for the quarter. The firm had revenue of C$523.90 million during the quarter. Algoma Steel Group had a negative net margin of 6.33% and a negative return on equity of 10.66%. Sell-side analysts forecast that Algoma Steel Group will post 1.4795699 earnings per share for the current fiscal 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.