Algoma Steel Group (ASTL) – Analysts’ Weekly Ratings Changes

Algoma Steel Group (TSE: ASTL) recently received a number of ratings updates from brokerages and research firms:

  • 2/8/2024 – Algoma Steel Group had its price target lowered by analysts at Cormark from C$18.25 to C$17.50.
  • 2/6/2024 – Algoma Steel Group had its price target lowered by analysts at Stifel Nicolaus from C$18.00 to C$17.50. They now have a “buy” rating on the stock.
  • 1/24/2024 – Algoma Steel Group had its price target lowered by analysts at BMO Capital Markets from C$16.00 to C$15.00. They now have an “outperform” rating on the stock.
  • 1/24/2024 – Algoma Steel Group had its price target lowered by analysts at Stifel Nicolaus from C$19.00 to C$18.00. They now have a “buy” rating on the stock.
  • 1/2/2024 – Algoma Steel Group was downgraded by analysts at Beacon Securities from a “buy” rating to a “hold” rating. They now have a C$14.00 price target on the stock, up previously from C$11.00.
  • 12/21/2023 – Algoma Steel Group had its price target raised by analysts at Stifel Nicolaus from C$15.00 to C$19.00. They now have a “buy” rating on the stock.

Algoma Steel Group Price Performance

Shares of TSE ASTL opened at C$10.81 on Tuesday. Algoma Steel Group Inc. has a fifty-two week low of C$8.64 and a fifty-two week high of C$13.54. The stock has a market cap of C$1.12 billion, a price-to-earnings ratio of 16.89 and a beta of 1.57. The company has a debt-to-equity ratio of 10.83, a quick ratio of 1.51 and a current ratio of 2.88. The firm’s 50-day simple moving average is C$12.06 and its 200 day simple moving average is C$10.58.

Algoma Steel Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 29th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.85%. Algoma Steel Group’s dividend payout ratio is currently 42.19%.

Insiders Place Their Bets

In other Algoma Steel Group news, Director Michael Allan Mcquade sold 200,000 shares of Algoma Steel Group stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of C$11.62, for a total transaction of C$2,324,000.00. In related news, Director Michael Allan Mcquade sold 200,000 shares of Algoma Steel Group stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of C$11.62, for a total value of C$2,324,000.00. Also, Director David Daniel Sgro sold 15,000 shares of Algoma Steel Group stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of C$7.49, for a total transaction of C$112,381.50. Insiders have sold a total of 265,000 shares of company stock valued at $2,825,142 in the last 90 days. 4.86% of the stock is currently owned by corporate insiders.

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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