Stifel Nicolaus Has Lowered Expectations for Algoma Steel Group (TSE:ASTL) Stock Price

Algoma Steel Group (TSE:ASTL) had its price objective lowered by Stifel Nicolaus from C$21.00 to C$15.25 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 62.23% from the company’s current price.

Algoma Steel Group Trading Up 4.4 %

Shares of ASTL stock opened at C$9.40 on Friday. The stock’s fifty day moving average price is C$11.20 and its two-hundred day moving average price is C$13.18. The company has a market cap of C$976.38 million, a PE ratio of -6.45 and a beta of 1.50. Algoma Steel Group has a fifty-two week low of C$7.54 and a fifty-two week high of C$16.83. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31.

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.