Algoma Steel Group (TSE:ASTL) Trading Up 4% – Here’s Why
by Michael Walen · The Markets DailyAlgoma Steel Group Inc. (TSE:ASTL – Get Free Report) rose 4% during trading on Tuesday . The stock traded as high as C$5.48 and last traded at C$5.45. Approximately 507,276 shares were traded during trading, a decline of 18% from the average daily volume of 618,752 shares. The stock had previously closed at C$5.24.
Wall Street Analyst Weigh In
Separately, Royal Bank Of Canada set a C$7.00 price objective on shares of Algoma Steel Group and gave the company a “sector perform” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$8.17.
Check Out Our Latest Analysis on ASTL
Algoma Steel Group Price Performance
The stock’s fifty day moving average price is C$6.32 and its 200-day moving average price is C$6.19. The firm has a market cap of C$642.87 million, a PE ratio of -0.59 and a beta of 1.77. The company has a debt-to-equity ratio of 175.52, a quick ratio of 1.50 and a current ratio of 2.18.
Algoma Steel Group (TSE:ASTL – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported C($1.46) earnings per share for the quarter. The business had revenue of C$296.90 million for the quarter. Algoma Steel Group had a negative net margin of 47.22% and a negative return on equity of 125.08%. As a group, equities analysts forecast that Algoma Steel Group Inc. will post 1.4795699 EPS for the current fiscal 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.