Algoma Steel Group (TSE:ASTL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Algoma Steel Group (TSE:ASTL - Get Free Report) had its price target raised by stock analysts at Stifel Nicolaus from C$20.00 to C$22.00 in a report issued on Friday,BayStreet.CA reports. Stifel Nicolaus' price objective suggests a potential upside of 40.04% from the stock's current price.

Separately, BMO Capital Markets upped their price objective on Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th.

View Our Latest Report on Algoma Steel Group

Algoma Steel Group Stock Down 1.3 %

ASTL traded down C$0.21 during trading hours on Friday, hitting C$15.71. 17,229 shares of the company's stock were exchanged, compared to its average volume of 58,336. The firm has a market cap of C$1.64 billion, a P/E ratio of -71.41 and a beta of 1.50. Algoma Steel Group has a 12-month low of C$9.16 and a 12-month high of C$16.83. The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.70. The firm has a 50 day moving average of C$14.29 and a 200 day moving average of C$12.40.

Insider Transactions at Algoma Steel Group

In other Algoma Steel Group news, Director Michael Allan Mcquade sold 36,260 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$13.80, for a total transaction of C$500,388.00. Also, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total value of C$68,842.90. Insiders own 7.57% of the company's stock.

Algoma Steel Group Company Profile

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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