Algoma Steel Group (TSE:ASTL) Announces Earnings Results

Algoma Steel Group (TSE:ASTL) issued its earnings results on Wednesday. The company reported C($3.36) EPS for the quarter, FiscalAI reports. Algoma Steel Group had a negative net margin of 30.92% and a negative return on equity of 53.24%. The firm had revenue of C$455.00 million during the quarter.

Algoma Steel Group Stock Up 0.9%

TSE ASTL traded up C$0.05 during mid-day trading on Wednesday, hitting C$5.90. The company’s stock had a trading volume of 352,118 shares, compared to its average volume of 762,969. The firm has a market capitalization of C$619.11 million, a price-to-earnings ratio of -4.07 and a beta of 1.46. The company’s 50 day simple moving average is C$6.15 and its 200 day simple moving average is C$5.91. Algoma Steel Group has a twelve month low of C$4.20 and a twelve month high of C$9.92. The company has a current ratio of 2.29, a quick ratio of 1.51 and a debt-to-equity ratio of 85.10.

Analyst Ratings Changes

Separately, Jefferies Financial Group set a C$6.00 price objective on Algoma Steel Group and gave the company a “hold” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$7.88.

About Algoma Steel Group

Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales. Substantial revenue is generated from the sale of Steel sheets and strips.