Algoma Steel Group (TSE:ASTL - Free Report) had its target price trimmed by Stifel Nicolaus from C$14.00 to C$13.00 in a report issued on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.
A number of other research analysts have also recently commented on the company. BMO Capital Markets cut Algoma Steel Group from an "outperform" rating to a "market perform" rating and dropped their price target for the company from C$12.00 to C$8.00 in a research report on Tuesday. Royal Bank of Canada set a C$8.00 price objective on Algoma Steel Group and gave the company a "sector perform" rating in a research note on Tuesday, April 22nd.
Read Our Latest Research Report on ASTL
Algoma Steel Group Stock Performance
Shares of TSE ASTL traded up C$0.23 during trading on Tuesday, reaching C$7.24. 323,441 shares of the stock traded hands, compared to its average volume of 157,595. Algoma Steel Group has a 52-week low of C$5.91 and a 52-week high of C$16.83. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The company has a 50-day moving average of C$7.31 and a 200-day moving average of C$10.50. The stock has a market capitalization of C$752.02 million, a P/E ratio of -4.97 and a beta of 1.50.
Algoma Steel Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.76%. Algoma Steel Group's payout ratio is -18.53%.
Insider Activity at Algoma Steel Group
In other Algoma Steel Group news, Senior Officer Michael Moraca bought 3,800 shares of the firm's stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of C$7.82 per share, for a total transaction of C$29,716.00. 7.57% of the stock is currently owned by corporate insiders.
About Algoma Steel Group
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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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