Algoma Steel Group Inc. (TSE:ASTL - Get Free Report) traded up 4.5% during trading on Wednesday . The stock traded as high as C$9.63 and last traded at C$9.50. 555,397 shares traded hands during mid-day trading, an increase of 136% from the average session volume of 235,227 shares. The stock had previously closed at C$9.09.
Analysts Set New Price Targets
Several research analysts recently issued reports on ASTL shares. Royal Bank Of Canada set a C$8.00 price target on shares of Algoma Steel Group and gave the stock a "sector perform" rating in a research note on Tuesday, April 22nd. BMO Capital Markets lowered shares of Algoma Steel Group from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from C$12.00 to C$8.00 in a research note on Tuesday, June 3rd. Finally, Stifel Nicolaus decreased their price target on shares of Algoma Steel Group from C$14.00 to C$13.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd.
Read Our Latest Stock Report on ASTL
Algoma Steel Group Stock Performance
The business's fifty day moving average price is C$8.55 and its 200-day moving average price is C$9.34. 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 stock has a market cap of C$986.77 million, a PE ratio of -6.52 and a beta of 1.50.
Algoma Steel Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Tuesday, May 13th. Algoma Steel Group's payout ratio is presently -18.53%.
Insider Activity
In related news, Senior Officer Michael Moraca purchased 3,800 shares of the company's stock in a transaction dated Monday, May 5th. The shares were purchased at an average price of C$7.82 per share, with a total value of C$29,716.00. 7.57% of the stock is currently owned by insiders.
Algoma Steel Group Company Profile
(
Get Free Report)
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.
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