BMO Capital Markets Trims Algoma Steel Group (TSE:ASTL) Target Price to C$13.00

Algoma Steel Group (TSE:ASTL) had its target price dropped by research analysts at BMO Capital Markets from C$14.00 to C$13.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 35.84% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ASTL. Cormark reduced their price objective on shares of Algoma Steel Group from C$17.00 to C$14.50 in a report on Monday. Stifel Nicolaus reduced their price objective on shares of Algoma Steel Group from C$16.00 to C$15.00 in a report on Tuesday, April 9th.

Algoma Steel Group Price Performance

Shares of ASTL opened at C$9.57 on Monday. Algoma Steel Group has a twelve month low of C$8.71 and a twelve month high of C$13.54. The firm’s fifty day simple moving average is C$10.49 and its 200-day simple moving average is C$11.19. The firm has a market capitalization of C$995.66 million, a price-to-earnings ratio of 14.95 and a beta of 1.54. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83.

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.