Algoma Steel Group (TSE:ASTL) Sets New 12-Month High – Time to Buy?

Shares of Algoma Steel Group Inc. (TSE:ASTL) hit a new 52-week high on Monday. The stock traded as high as C$8.21 and last traded at C$8.16, with a volume of 1,171,594 shares changing hands. The stock had previously closed at C$7.60.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ASTL shares. Royal Bank Of Canada set a C$6.00 price objective on shares of Algoma Steel Group and gave the company a “sector perform” rating in a report on Wednesday, September 2nd. BMO Capital Markets decreased their price objective on Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating on the stock in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Algoma Steel Group has a consensus rating of “Hold” and an average price target of C$6.00.

Algoma Steel Group Stock Performance

The firm has a market capitalization of C$863.14 million, a PE ratio of -1.19 and a beta of 1.99. The company has a quick ratio of 1.50, a current ratio of 2.53 and a debt-to-equity ratio of 478.37. The firm has a 50-day moving average price of C$6.24 and a 200 day moving average price of C$6.19.

Algoma Steel Group (TSE:ASTL) last announced its quarterly earnings data on Wednesday, October 28th. The company reported C($1.18) EPS for the quarter. Algoma Steel Group had a negative return on equity of 166.65% and a negative net margin of 41.29%. The company had revenue of C$249.40 million for the quarter. Research analysts expect that Algoma Steel Group Inc. will post 1.48 earnings per share for the current year.

About Algoma Steel Group

Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defence, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada. With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada.