Algoma Steel Group (TSE:ASTL) PT Lowered to C$17.00 at Cormark

Algoma Steel Group (TSE:ASTL) had its target price decreased by Cormark from C$17.50 to C$17.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$16.00 to C$15.00 and set an outperform rating for the company in a research report on Wednesday, January 24th. Beacon Securities downgraded shares of Algoma Steel Group from a buy rating to a hold rating and upped their price target for the company from C$11.00 to C$14.00 in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus upped their price target on shares of Algoma Steel Group from C$15.25 to C$16.00 in a research report on Wednesday, March 13th.

Algoma Steel Group Trading Up 1.1 %

Shares of TSE:ASTL opened at C$11.55 on Tuesday. The stock has a market capitalization of C$1.20 billion, a price-to-earnings ratio of 18.05 and a beta of 1.52. Algoma Steel Group has a 1-year low of C$8.64 and a 1-year high of C$13.54. The company has a debt-to-equity ratio of 10.83, a quick ratio of 1.51 and a current ratio of 2.88. The company has a 50 day moving average price of C$11.08 and a 200 day moving average price of C$10.82.

Algoma Steel Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 29th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. Algoma Steel Group’s payout ratio is 42.19%.

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.