Algoma Steel Group (TSE:ASTL) Given New C$11.50 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus increased the price target for Algoma Steel Group from C$10.75 to C$11.50, indicating a potential upside of 122.01% from the stock's previous close.
• Royal Bank Of Canada revised its price target down significantly from C$8.00 to C$6.00, maintaining a "sector perform" rating.
• The current average rating for Algoma Steel Group is "Hold," with a consensus target price of C$8.50, according to MarketBeat.

Algoma Steel Group (TSE:ASTL - Get Free Report) had its price objective upped by analysts at Stifel Nicolaus from C$10.75 to C$11.50 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 122.01% from the stock's previous close.

Separately, Royal Bank Of Canada reduced their price target on shares of Algoma Steel Group from C$8.00 to C$6.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$8.50.

Algoma Steel Group Price Performance

Shares of ASTL traded up C$0.19 during mid-day trading on Tuesday, reaching C$5.18. The stock had a trading volume of 2,054,465 shares, compared to its average volume of 353,146. Algoma Steel Group has a 12 month low of C$4.20 and a 12 month high of C$16.83. The business has a fifty day moving average of C$6.34 and a 200 day moving average of C$7.48. 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 has a market cap of C$543.56 million, a price-to-earnings ratio of -3.57 and a beta of 1.59.

Algoma Steel Group Company Profile

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.

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