Stifel Nicolaus Lowers Algoma Steel Group (TSE:ASTL) Price Target to C$15.25

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

Algoma Steel Group Stock Performance

ASTL stock opened at C$9.40 on Friday. The stock has a 50-day moving average price of C$11.20 and a 200-day moving average price of C$13.18. Algoma Steel Group has a 1-year low of C$7.54 and a 1-year high of C$16.83. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. The firm has a market cap of C$976.38 million, a PE ratio of -6.45 and a beta of 1.50.

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.