Algoma Steel Group (TSE:ASTL) Given New C$22.00 Price Target at Stifel Nicolaus

Algoma Steel Group (TSE:ASTL) had its price target raised by equities research analysts at Stifel Nicolaus from C$20.00 to C$22.00 in a report released on Friday,BayStreet.CA reports. Stifel Nicolaus’ target price would indicate a potential upside of 40.04% from the company’s current price.

Separately, BMO Capital Markets raised their target price on shares of Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th.

Algoma Steel Group Price Performance

Algoma Steel Group stock traded down C$0.21 during trading hours on Friday, hitting C$15.71. The stock had a trading volume of 17,229 shares, compared to its average volume of 58,336. Algoma Steel Group has a 1-year low of C$9.16 and a 1-year high of C$16.83. The stock has a market capitalization of C$1.64 billion, a price-to-earnings ratio of -71.41 and a beta of 1.50. The stock’s fifty day moving average is C$14.29 and its two-hundred day moving average is C$12.40. The company has a debt-to-equity ratio of 40.70, a current ratio of 4.19 and a quick ratio of 1.51.

Insider Buying and Selling

In other Algoma Steel Group news, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total transaction of C$68,842.90. Also, Director Michael Allan Mcquade sold 36,260 shares of Algoma Steel Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$13.80, for a total transaction of C$500,388.00. 7.57% of the stock is owned by company 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.