Algoma Steel Group (TSE:ASTL) Given a C$7.00 Price Target at Royal Bank Of Canada

Algoma Steel Group (TSE:ASTL) has been assigned a C$7.00 price target by investment analysts at Royal Bank Of Canada in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 22.16% from the company’s previous close.

Algoma Steel Group Stock Performance

Shares of Algoma Steel Group stock traded down C$0.01 on Tuesday, reaching C$5.73. 259,895 shares of the stock were exchanged, compared to its average volume of 634,188. The firm has a market capitalization of C$603.88 million, a PE ratio of -0.56 and a beta of 1.62. Algoma Steel Group has a 1-year low of C$4.20 and a 1-year high of C$9.92. The business has a fifty day moving average price of C$6.73 and a two-hundred day moving average price of C$6.25. The company has a current ratio of 2.18, a quick ratio of 1.50 and a debt-to-equity ratio of 175.52.

Algoma Steel Group (TSE:ASTL) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C($1.46) EPS for the quarter. The business had revenue of C$296.90 million during the quarter. Algoma Steel Group had a negative net margin of 47.22% and a negative return on equity of 125.08%. As a group, research analysts anticipate that Algoma Steel Group will post 1.4795699 earnings per share for the current fiscal year.

Algoma Steel Group Company Profile

Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales. Substantial revenue is generated from the sale of Steel sheets and strips.