Algoma Steel Group (TSE:ASTL) PT Set at C$6.00 by Royal Bank Of Canada

Algoma Steel Group (TSE:ASTL) received a C$6.00 price target from investment analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential downside of 1.15% from the company’s current price.

Separately, BMO Capital Markets reduced their price target on 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Algoma Steel Group has an average rating of “Hold” and an average price target of C$7.38.

Algoma Steel Group Stock Up 5.6%

ASTL stock traded up C$0.32 during trading on Wednesday, reaching C$6.07. The stock had a trading volume of 608,787 shares, compared to its average volume of 641,739. The company has a current ratio of 2.49, a quick ratio of 1.50 and a debt-to-equity ratio of 368.00. The firm has a fifty day moving average price of C$5.73 and a 200 day moving average price of C$6.16. The company has a market capitalization of C$639.71 million, a P/E ratio of -0.60 and a beta of 1.74. Algoma Steel Group has a 1-year low of C$4.20 and a 1-year high of C$8.16.

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. Algoma Steel Group had a negative net margin of 55.02% and a negative return on equity of 180.34%. The business had revenue of C$267.50 million for the quarter. On average, equities analysts anticipate that Algoma Steel Group will post 1.4795699 earnings per share for the current year.

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.