Stifel Nicolaus Increases Algoma Steel Group (TSE:ASTL) Price Target to C$16.00

Algoma Steel Group (TSE:ASTL) had its target price lifted by Stifel Nicolaus from C$15.00 to C$16.00 in a research note released on Monday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. Cormark lowered their price target on shares of Algoma Steel Group from C$17.00 to C$14.50 in a research report on Monday. BMO Capital Markets lowered their price target on shares of Algoma Steel Group from C$14.00 to C$13.00 and set an outperform rating on the stock in a research report on Monday.

Algoma Steel Group Trading Up 1.7 %

Shares of ASTL stock opened at C$9.54 on Monday. The company’s 50-day moving average price is C$10.44 and its 200-day moving average price is C$11.17. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83. The stock has a market cap of C$992.54 million, a price-to-earnings ratio of 14.91 and a beta of 1.54. Algoma Steel Group has a twelve month low of C$8.71 and a twelve month high of C$13.54.

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.