Algoma Steel Group (TSE:ASTL) Given New C$13.00 Price Target at Stifel Nicolaus

Algoma Steel Group (TSE:ASTL) had its price target decreased by analysts at Stifel Nicolaus from C$14.00 to C$13.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 91.74% from the stock’s current price.

Other research analysts have also issued reports about the stock. Royal Bank of Canada set a C$8.00 target price on shares of Algoma Steel Group and gave the company a “sector perform” rating in a research note on Tuesday, April 22nd. BMO Capital Markets lowered shares of Algoma Steel Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$12.00 to C$8.00 in a research report on Tuesday.

Algoma Steel Group Stock Up 0.3%

Shares of Algoma Steel Group stock traded up C$0.02 during midday trading on Tuesday, reaching C$6.78. 91,129 shares of the company’s stock traded hands, compared to its average volume of 154,523. The company has a market cap of C$704.24 million, a price-to-earnings ratio of -4.65 and a beta of 1.50. The company’s 50 day simple moving average is C$7.33 and its 200 day simple moving average is C$10.52. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31. Algoma Steel Group has a 52 week low of C$5.91 and a 52 week high of C$16.83.

Insiders Place Their Bets

In other Algoma Steel Group news, Senior Officer Michael Moraca purchased 3,800 shares of the stock in a transaction dated Monday, May 5th. The stock was bought at an average price of C$7.82 per share, for a total transaction of C$29,716.00. Insiders own 7.57% of the company’s stock.

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.