Algoma Steel Group (TSE:ASTL) Price Target Cut to C$6.00 by Analysts at BMO Capital Markets

Algoma Steel Group (TSE:ASTL) had its price target cut by BMO Capital Markets from C$7.00 to C$6.00 in a research note released on Friday,BayStreet.CA reports. They currently have a market perform rating on the stock.

Separately, Royal Bank Of Canada set a C$7.00 price target on shares of Algoma Steel Group and gave the company a “sector perform” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Algoma Steel Group has an average rating of “Hold” and an average target price of C$7.12.

Algoma Steel Group Price Performance

Algoma Steel Group stock opened at C$5.39 on Friday. The company has a market cap of C$568.05 million, a price-to-earnings ratio of -0.52 and a beta of 1.77. The firm’s fifty day moving average is C$6.18 and its 200 day moving average is C$6.20. The company has a quick ratio of 1.50, a current ratio of 2.49 and a debt-to-equity ratio of 368.00. Algoma Steel Group has a 52-week low of C$4.20 and a 52-week high of C$8.16.

Algoma Steel Group (TSE:ASTL) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.88) EPS for the quarter. Algoma Steel Group had a negative net margin of 55.02% and a negative return on equity of 180.34%. The business had revenue of C$267.50 million for the quarter. Sell-side analysts forecast that Algoma Steel Group will post 1.4795699 EPS for the current fiscal year.

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.