Algoma Steel Group (TSE:ASTL) Given a C$8.00 Price Target by Royal Bank of Canada Analysts

Algoma Steel Group (TSE:ASTL - Get Free Report) received a C$8.00 target price from Royal Bank of Canada in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's target price would suggest a potential upside of 12.20% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their price objective on shares of Algoma Steel Group from C$14.00 to C$12.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus dropped their price objective on Algoma Steel Group from C$15.25 to C$14.75 and set a "hold" rating for the company in a research note on Thursday, April 17th.

Algoma Steel Group Stock Performance

Algoma Steel Group stock traded down C$0.16 during trading hours on Tuesday, reaching C$7.13. 150,686 shares of the stock were exchanged, compared to its average volume of 146,553. Algoma Steel Group has a 52-week low of C$5.91 and a 52-week high of C$16.83. The stock has a market cap of C$740.59 million, a P/E ratio of -4.89 and a beta of 1.50. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31. The firm's 50 day moving average is C$8.29 and its 200 day moving average is C$11.78.

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.