Algoma Steel Group (TSE:ASTL) Posts Quarterly Earnings Results

Algoma Steel Group (TSE:ASTL) announced its earnings results on Wednesday. The company reported C($1.18) earnings per share (EPS) for the quarter, FiscalAI reports. Algoma Steel Group had a negative return on equity of 180.34% and a negative net margin of 55.02%. The firm had revenue of C$249.40 million during the quarter.

Algoma Steel Group Trading Up 0.6%

ASTL opened at C$6.98 on Friday. The firm has a market cap of C$735.62 million, a price-to-earnings ratio of -0.69 and a beta of 1.74. The business’s 50 day moving average is C$6.09 and its two-hundred day moving average is C$6.16. The company has a quick ratio of 1.50, a current ratio of 2.49 and a debt-to-equity ratio of 368.00. Algoma Steel Group has a 52 week low of C$4.46 and a 52 week high of C$8.16.

Analyst Ratings Changes

ASTL has been the topic of a number of recent research reports. Royal Bank Of Canada set a C$6.00 price objective on Algoma Steel Group and gave the company a “sector perform” rating in a research report on Wednesday, September 2nd. BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating for the company in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Algoma Steel Group has an average rating of “Hold” and an average price target of C$6.00.

Algoma Steel Group Company Profile

Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defence, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada. With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada.