Cormark Cuts Algoma Steel Group (TSE:ASTL) Price Target to C$17.00

Algoma Steel Group (TSE:ASTL) had its price objective decreased by Cormark from C$17.50 to C$17.00 in a research note published on Tuesday morning, BayStreet.CA reports.

Several other equities research analysts have also weighed in on ASTL. BMO Capital Markets decreased their price objective on Algoma Steel Group from C$16.00 to C$15.00 and set an outperform rating for the company in a report on Wednesday, January 24th. Beacon Securities lowered Algoma Steel Group from a buy rating to a hold rating and boosted their price objective for the stock from C$11.00 to C$14.00 in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus boosted their price objective on Algoma Steel Group from C$15.25 to C$16.00 in a report on Wednesday, March 13th.

Algoma Steel Group Trading Up 1.1 %

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 one year low of C$8.64 and a one year high of C$13.54. The company has a debt-to-equity ratio of 10.83, a current ratio of 2.88 and a quick ratio of 1.51. The business’s fifty day moving average is C$11.06 and its 200-day moving average is C$10.83.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 29th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. Algoma Steel Group’s dividend payout ratio (DPR) is presently 42.19%.

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.