Stifel Nicolaus Cuts Algoma Steel Group (TSE:ASTL) Price Target to C$15.25

Algoma Steel Group (TSE:ASTL) had its target price reduced by analysts at Stifel Nicolaus from C$21.00 to C$15.25 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 61.03% from the company’s previous close.

Algoma Steel Group Trading Up 5.2 %

ASTL traded up C$0.47 during trading on Friday, reaching C$9.47. The company had a trading volume of 88,007 shares, compared to its average volume of 106,947. The stock has a market cap of C$983.65 million, a P/E ratio of -6.50 and a beta of 1.50. The business has a 50 day simple moving average of C$11.37 and a 200-day simple moving average of C$13.23. Algoma Steel Group has a 52 week low of C$7.54 and a 52 week high of C$16.83. The company has a quick ratio of 1.51, a current ratio of 3.31 and a debt-to-equity ratio of 43.70.

Algoma Steel Group Company Profile

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.