Algoma Steel Group (TSE:ASTL) Sets New 1-Year Low at $8.53

Algoma Steel Group Inc. (TSE:ASTLGet Rating) hit a new 52-week low on Thursday . The stock traded as low as C$8.53 and last traded at C$8.60, with a volume of 28393 shares changing hands. The stock had previously closed at C$8.74.

Analyst Ratings Changes

Several brokerages have weighed in on ASTL. Eight Capital reduced their price objective on Algoma Steel Group from C$15.75 to C$14.00 in a report on Wednesday, November 9th. Cormark reduced their price objective on Algoma Steel Group from C$19.00 to C$16.50 in a report on Wednesday, September 28th. Stifel Nicolaus reduced their price objective on Algoma Steel Group from C$10.75 to C$10.25 in a report on Wednesday, November 9th. Finally, BMO Capital Markets dropped their target price on Algoma Steel Group from C$16.00 to C$14.00 in a research report on Wednesday, September 28th.

Algoma Steel Group Stock Up 1.6 %

The company has a quick ratio of 1.51, a current ratio of 3.57 and a debt-to-equity ratio of 7.10. The company has a market cap of C$907.69 million and a PE ratio of 1.28. The stock has a 50-day moving average of C$9.67 and a 200-day moving average of C$11.12.

Algoma Steel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 30th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.29%. Algoma Steel Group’s dividend payout ratio (DPR) is presently 2.88%.

About Algoma Steel Group

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Algoma Steel Group Inc produces and sells steel products primarily in North America. It 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.

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