Algoma Steel Group (TSE:ASTL) Trading Down 12.7% – Should You Sell?

Algoma Steel Group Inc. (TSE:ASTL) shares were down 12.7% during mid-day trading on Thursday . The stock traded as low as C$5.16 and last traded at C$5.21. 774,986 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 617,433 shares. The stock had previously closed at C$5.97.

Analyst Ratings Changes

Separately, Royal Bank Of Canada set a C$7.00 price target on shares of Algoma Steel Group and gave the stock a “sector perform” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$8.17.

Algoma Steel Group Price Performance

The company has a debt-to-equity ratio of 175.52, a current ratio of 2.18 and a quick ratio of 1.50. The firm has a market cap of C$549.08 million, a price-to-earnings ratio of -0.51 and a beta of 1.77. The stock’s fifty day moving average price is C$6.22 and its 200-day moving average price is C$6.21.

Algoma Steel Group (TSE:ASTL) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C($0.88) EPS for the quarter. Algoma Steel Group had a negative return on equity of 125.08% and a negative net margin of 47.22%.The firm had revenue of C$267.50 million during the quarter. Equities research analysts predict that Algoma Steel Group Inc. will post 1.4795699 EPS for the current fiscal year.

About Algoma Steel Group

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.