Algoma Steel Group (TSE:ASTL) Hits New 52-Week Low - What's Next?

Key Points

• Algoma Steel Group Inc. hit a new 52-week low at C$5.85, closing at C$5.94, with a trading volume of 258,855 shares.
• Recent analyst reports downgraded the company's target prices, with Royal Bank of Canada and BMO Capital Markets reducing their estimates to C$8.00.
• Algoma Steel has an average rating of "Hold" from analysts and a market capitalization of C$618.06 million.

Algoma Steel Group Inc. (TSE:ASTL - Get Free Report) hit a new 52-week low on Monday . The company traded as low as C$5.85 and last traded at C$5.94, with a volume of 258855 shares. The stock had previously closed at C$6.07.

Wall Street Analyst Weigh In

ASTL has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their target price on Algoma Steel Group from C$10.00 to C$8.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus reduced their target price on Algoma Steel Group from C$14.00 to C$13.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. Finally, BMO Capital Markets downgraded Algoma Steel Group from an "outperform" rating to a "market perform" rating and reduced their target price for the company from C$12.00 to C$8.00 in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Algoma Steel Group presently has an average rating of "Hold" and an average price target of C$9.67.

Algoma Steel Group Stock Performance

The stock has a market capitalization of C$618.06 million, a P/E ratio of -4.06 and a beta of 2.07. The company has a 50-day moving average price of C$7.18 and a two-hundred day moving average price of C$7.76. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70.

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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