Cormark Boosts Algoma Steel Group (TSE:ASTL) Price Target to C$18.75

Posted by Tyrone Williams on Jul 26th, 2024

Algoma Steel Group (TSE:ASTL – Free Report) had its price objective lifted by Cormark from C$14.50 to C$18.75 in a research report released on Monday, BayStreet.CA reports.

A number of other analysts have also weighed in on the stock. BMO Capital Markets decreased their target price on shares of Algoma Steel Group from C$14.00 to C$13.00 and set an outperform rating on the stock in a report on Monday, June 24th. Stifel Nicolaus upped their target price on shares of Algoma Steel Group from C$15.00 to C$16.00 and gave the stock a buy rating in a report on Monday, June 24th.

Check Out Our Latest Analysis on ASTL

Algoma Steel Group Stock Up 0.6 %

ASTL opened at C$11.91 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.88 and a debt-to-equity ratio of 10.83. The stock has a market cap of C$1.24 billion, a price-to-earnings ratio of 18.61 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. The company’s 50-day moving average price is C$10.43 and its two-hundred day moving average price is C$10.90.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, July 2nd. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Algoma Steel Group’s payout ratio is 42.19%.

About Algoma Steel Group

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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.