Algoma Steel Group (TSE:ASTL) Price Target Cut to C$5.00 by Analysts at Royal Bank Of Canada

Algoma Steel Group (TSE:ASTL) had its price objective reduced by Royal Bank Of Canada from C$6.00 to C$5.00 in a research note released on Friday morning,BayStreet.CA reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Separately, BMO Capital Markets lowered their price target on shares of Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating on the stock in a report on Friday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Algoma Steel Group presently has a consensus rating of “Hold” and an average target price of C$7.12.

Algoma Steel Group Trading Up 0.7%

Shares of TSE ASTL opened at C$5.39 on Friday. The company has a debt-to-equity ratio of 368.00, a current ratio of 2.49 and a quick ratio of 1.50. The stock has a market capitalization of C$568.05 million, a P/E ratio of -0.52 and a beta of 1.77. Algoma Steel Group has a 1-year low of C$4.20 and a 1-year high of C$8.16. The business has a fifty day moving average price of C$6.18 and a 200 day moving average price of C$6.20.

Algoma Steel Group (TSE:ASTL) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.88) earnings per share for the quarter. Algoma Steel Group had a negative net margin of 55.02% and a negative return on equity of 180.34%. The company had revenue of C$267.50 million for the quarter. Equities research analysts expect that Algoma Steel Group will post 1.4795699 EPS for the current fiscal 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.