Stifel Nicolaus Cuts Algoma Steel Group (TSE:ASTL) Price Target to C$21.00

Algoma Steel Group (TSE:ASTL) had its price objective reduced by Stifel Nicolaus from C$22.00 to C$21.00 in a research note released on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

Algoma Steel Group Stock Performance

ASTL stock opened at C$12.02 on Monday. The firm has a 50 day simple moving average of C$14.35 and a 200 day simple moving average of C$13.29. Algoma Steel Group has a 52 week low of C$9.16 and a 52 week high of C$16.83. The stock has a market cap of C$1.25 billion, a P/E ratio of -54.64 and a beta of 1.50. The company has a debt-to-equity ratio of 40.70, a quick ratio of 1.51 and a current ratio of 4.19.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio (DPR) is -122.73%.

Algoma Steel Group Company Profile

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.