Algoma Steel Group (TSE:ASTL) Given New C$10.35 Price Target at Eight Capital

Algoma Steel Group (TSE:ASTL – Get Rating) had its price target lowered by Eight Capital from C$14.00 to C$10.35 in a report released on Wednesday, BayStreet.CA reports.

Several other analysts have also recently weighed in on ASTL. Stifel Nicolaus raised shares of Algoma Steel Group from a hold rating to a buy rating and increased their price target for the company from C$10.75 to C$15.00 in a research note on Wednesday. BMO Capital Markets decreased their price target on shares of Algoma Steel Group from C$14.00 to C$11.00 in a research report on Tuesday, January 10th. Finally, Cormark reduced their price objective on shares of Algoma Steel Group from C$19.00 to C$16.50 in a report on Wednesday, September 28th.

Algoma Steel Group Stock Up 5.1 %

ASTL stock opened at C$9.14 on Wednesday. The company has a market cap of C$949.23 million and a price-to-earnings ratio of 1.38. The company has a current ratio of 3.57, a quick ratio of 1.51 and a debt-to-equity ratio of 7.10. Algoma Steel Group has a 12 month low of C$7.70 and a 12 month high of C$15.69. The firm has a 50-day moving average of C$8.58 and a two-hundred day moving average of C$10.12.

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.