Stelco Holdings Inc (TSE:STLC – Get Free Report)’s stock price was up 74% during mid-day trading on Monday . The company traded as high as C$65.00 and last traded at C$65.00. Approximately 200,338 shares were traded during trading, an increase of 4% from the average daily volume of 193,160 shares. The stock had previously closed at C$37.36.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on STLC shares. BMO Capital Markets reduced their price target on Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Royal Bank of Canada reduced their price target on Stelco from C$47.00 to C$43.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. National Bankshares reduced their price target on Stelco from C$54.00 to C$52.00 in a report on Friday, May 10th. Cormark reduced their price target on Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their target price on Stelco from C$49.00 to C$47.00 in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.61.
Read Our Latest Research Report on STLC
Stelco Price Performance
Stelco Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 24th were paid a $0.50 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.08%. Stelco’s dividend payout ratio is currently 49.50%.
About Stelco
Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.
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