Algoma Steel Group (TSE:ASTL) Issues Earnings Results

Algoma Steel Group (TSE:ASTL) announced its quarterly earnings data on Wednesday. The company reported C($0.88) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$267.50 million during the quarter. Algoma Steel Group had a negative net margin of 47.22% and a negative return on equity of 125.08%.

Algoma Steel Group Price Performance

Shares of ASTL stock traded down C$0.21 on Wednesday, reaching C$5.97. The company’s stock had a trading volume of 390,415 shares, compared to its average volume of 616,557. 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 has a 12-month low of C$4.20 and a 12-month high of C$8.16. The company has a market capitalization of C$629.17 million, a P/E ratio of -0.58 and a beta of 1.77. The stock’s 50 day simple moving average is C$6.24 and its 200-day simple moving average is C$6.21.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada set a C$7.00 target price on shares of Algoma Steel Group and gave the stock a “sector perform” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$8.17.

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.