Algoma Steel Group (TSE:ASTL) Stock Price Down 9.2% – What’s Next?

Algoma Steel Group Inc. (TSE:ASTL)’s stock price was down 9.2% during mid-day trading on Friday . The stock traded as low as C$6.90 and last traded at C$6.94. Approximately 596,461 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 670,706 shares. The stock had previously closed at C$7.64.

Algoma Steel Group Price Performance

The company has a quick ratio of 1.51, a current ratio of 2.18 and a debt-to-equity ratio of 175.52. The stock has a market cap of C$731.40 million, a price-to-earnings ratio of -0.67 and a beta of 1.62. The company’s 50-day moving average is C$6.65 and its 200-day moving average is C$6.13.

Algoma Steel Group (TSE:ASTL) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C($1.46) earnings per share (EPS) for the quarter. The business had revenue of C$296.90 million during the quarter. Algoma Steel Group had a negative return on equity of 125.08% and a negative net margin of 47.22%. Equities research analysts expect that Algoma Steel Group Inc. will post 1.4795699 earnings per share for the current fiscal year.

About Algoma Steel Group

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.