Stifel Nicolaus Increases Algoma Steel Group (TSE:ASTL) Price Target to C$22.00

Algoma Steel Group (TSE:ASTL) had its price objective hoisted by Stifel Nicolaus from C$20.00 to C$22.00 in a report issued on Friday,BayStreet.CA reports. Stifel Nicolaus’ price objective indicates a potential upside of 40.04% from the company’s previous close.

Separately, BMO Capital Markets raised their target price on Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th.

Algoma Steel Group Price Performance

Shares of TSE:ASTL opened at C$15.71 on Friday. The business has a fifty day simple moving average of C$14.33 and a 200 day simple moving average of C$12.45. The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.70. Algoma Steel Group has a 1 year low of C$9.16 and a 1 year high of C$16.83. The firm has a market cap of C$1.64 billion, a price-to-earnings ratio of -71.41 and a beta of 1.50.

Insiders Place Their Bets

In other Algoma Steel Group news, Director David Daniel Sgro sold 6,845 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total transaction of C$68,842.90. Also, Director Michael Allan Mcquade sold 36,260 shares of Algoma Steel Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$13.80, for a total transaction of C$500,388.00. Corporate insiders own 7.57% of the company’s stock.

About Algoma Steel Group

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.