Stifel Nicolaus Has Lowered Expectations for Algoma Steel Group (TSE:ASTL) Stock Price

Algoma Steel Group (TSE:ASTL) had its price objective cut by Stifel Nicolaus from C$14.00 to C$13.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 91.74% from the stock’s previous close.

ASTL has been the topic of several other research reports. BMO Capital Markets lowered shares of Algoma Steel Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$12.00 to C$8.00 in a research note on Tuesday. Royal Bank of Canada set a C$8.00 price objective on shares of Algoma Steel Group and gave the company a “sector perform” rating in a report on Tuesday, April 22nd.

Algoma Steel Group Stock Up 0.3%

TSE:ASTL traded up C$0.02 on Tuesday, reaching C$6.78. The stock had a trading volume of 91,129 shares, compared to its average volume of 154,523. The stock has a market cap of C$704.24 million, a P/E ratio of -4.65 and a beta of 1.50. The company has a 50-day moving average of C$7.33 and a 200 day moving average of C$10.52. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. Algoma Steel Group has a 12-month low of C$5.91 and a 12-month high of C$16.83.

Insider Activity at Algoma Steel Group

In related news, Senior Officer Michael Moraca bought 3,800 shares of the business’s stock in a transaction on Monday, May 5th. The stock was bought at an average price of C$7.82 per share, for a total transaction of C$29,716.00. 7.57% of the stock is owned by insiders.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.