Algoma Steel Group (TSE:ASTL) Price Target Lowered to C$6.00 at BMO Capital Markets

Algoma Steel Group (TSE:ASTL) had its price target reduced by analysts at BMO Capital Markets from C$7.00 to C$6.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 11.32% from the company’s current price.

Separately, Royal Bank Of Canada set a C$7.00 target price on Algoma Steel Group and gave the company a “sector perform” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Algoma Steel Group has an average rating of “Hold” and an average price target of C$7.12.

Algoma Steel Group Stock Performance

TSE:ASTL traded up C$0.04 during trading hours on Friday, reaching C$5.39. The company had a trading volume of 672,805 shares, compared to its average volume of 623,023. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 175.52. Algoma Steel Group has a 52 week low of C$4.20 and a 52 week high of C$8.16. The firm has a market cap of C$568.05 million, a price-to-earnings ratio of -0.52 and a beta of 1.77. The firm’s 50 day moving average price is C$6.20 and its 200-day moving average price is C$6.20.

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

About Algoma Steel Group

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.