BMO Capital Markets Cuts Algoma Steel Group (TSE:ASTL) Price Target to C$12.00

Algoma Steel Group (TSE:ASTL) had its price objective lowered by BMO Capital Markets from C$14.00 to C$12.00 in a report published on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Separately, Stifel Nicolaus cut their target price on Algoma Steel Group from C$21.00 to C$15.25 and set a “buy” rating for the company in a research note on Friday, March 14th.

Algoma Steel Group Stock Up 0.8 %

Shares of TSE ASTL opened at C$6.49 on Wednesday. The stock has a market capitalization of C$674.12 million, a P/E ratio of -4.45 and a beta of 1.50. The stock’s fifty day moving average is C$9.28 and its 200 day moving average is C$12.28. Algoma Steel Group has a 52 week low of C$5.91 and a 52 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.

Algoma Steel Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th were issued a $0.05 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.08%. Algoma Steel Group’s dividend payout ratio (DPR) is currently -18.53%.

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.