Royal Bank Of Canada Cuts Algoma Steel Group (TSE:ASTL) Price Target to C$6.00

Algoma Steel Group (TSE:ASTL) had its price target decreased by Royal Bank Of Canada from C$8.00 to C$6.00 in a research report released on Thursday morning,BayStreet.CA reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Separately, Stifel Nicolaus reduced their price objective on shares of Algoma Steel Group from C$13.00 to C$10.75 in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Algoma Steel Group presently has an average rating of “Hold” and an average target price of C$8.25.

Algoma Steel Group Stock Performance

TSE:ASTL opened at C$4.62 on Thursday. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. The company has a 50-day moving average of C$6.41 and a 200-day moving average of C$7.52. Algoma Steel Group has a twelve month low of C$4.20 and a twelve month high of C$16.83. The firm has a market cap of C$484.80 million, a price-to-earnings ratio of -3.19 and a beta of 2.07.

Algoma Steel Group Company Profile

Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales.