Stifel Nicolaus Issues Pessimistic Forecast for Algoma Steel Group (TSE:ASTL) Stock Price

Algoma Steel Group (TSE:ASTL) had its price objective dropped by research analysts at Stifel Nicolaus from C$21.00 to C$15.25 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 61.03% from the stock’s previous close.

Algoma Steel Group Stock Up 5.2 %

Shares of ASTL stock traded up C$0.47 during trading hours on Friday, reaching C$9.47. 88,007 shares of the company’s stock were exchanged, compared to its average volume of 106,947. The stock’s fifty day moving average price is C$11.37 and its two-hundred day moving average price is C$13.23. The stock has a market cap of C$983.65 million, a PE ratio of -6.50 and a beta of 1.50. Algoma Steel Group has a 1 year low of C$7.54 and a 1 year high of C$16.83. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70.

About Algoma Steel Group

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.