Algoma Steel Group (TSE:ASTL) Releases Quarterly Earnings Results

Algoma Steel Group (TSE:ASTL) posted its earnings results on Wednesday. The company reported C($0.88) EPS for the quarter, FiscalAI reports. Algoma Steel Group had a negative net margin of 47.22% and a negative return on equity of 125.08%. The firm had revenue of C$267.50 million for the quarter.

Algoma Steel Group Price Performance

ASTL stock opened at C$5.35 on Friday. Algoma Steel Group has a 12 month low of C$4.20 and a 12 month high of C$8.16. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 175.52. The company has a 50-day moving average price of C$6.20 and a 200 day moving average price of C$6.20. The stock has a market cap of C$563.83 million, a PE ratio of -0.52 and a beta of 1.77.

Wall Street Analysts Forecast Growth

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 research report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Algoma Steel Group presently has an average rating of “Hold” and a consensus price target of C$8.17.

About Algoma Steel Group

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.