Algoma Steel Group (TSE:ASTL) Stock Price Down 4.4% – Time to Sell?

Algoma Steel Group Inc. (TSE:ASTL)’s stock price dropped 4.4% on Thursday. The stock traded as low as C$5.70 and last traded at C$5.80. 1,131,889 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 610,402 shares. The stock had previously closed at C$6.07.

Analyst Ratings Changes

A number of research firms recently issued reports on ASTL. Royal Bank Of Canada set a C$6.00 target price on shares of Algoma Steel Group and gave the company a “sector perform” rating in a research report on Wednesday, September 2nd. BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating for the company in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$6.00.

Algoma Steel Group Trading Down 1.6%

The business has a 50 day moving average of C$6.03 and a two-hundred day moving average of C$6.20. The company has a debt-to-equity ratio of 368.00, a quick ratio of 1.50 and a current ratio of 2.49. The firm has a market capitalization of C$601.77 million, a price-to-earnings ratio of -0.56 and a beta of 1.74.

Algoma Steel Group (TSE:ASTL) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C($0.88) earnings per share (EPS) for the quarter. Algoma Steel Group had a negative return on equity of 180.34% and a negative net margin of 55.02%. The firm had revenue of C$267.50 million during the quarter. Equities analysts predict that Algoma Steel Group Inc. will post 1.48 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.