Stifel Nicolaus Raises Algoma Steel Group (TSE:ASTL) Price Target to C$22.00

Algoma Steel Group (TSE:ASTL) had its price target hoisted by Stifel Nicolaus from C$20.00 to C$22.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Separately, BMO Capital Markets increased their target price on Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th.

Algoma Steel Group Trading Down 1.4 %

TSE:ASTL opened at C$15.49 on Friday. The company has a quick ratio of 1.51, a current ratio of 4.19 and a debt-to-equity ratio of 40.70. The business’s 50 day moving average is C$14.36 and its two-hundred day moving average is C$12.48. Algoma Steel Group has a 52 week low of C$9.16 and a 52 week high of C$16.83. The company has a market cap of C$1.61 billion, a PE ratio of -70.41 and a beta of 1.50.

Algoma Steel Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio (DPR) is -122.73%.

Insider Buying and Selling

In related news, Director David Daniel Sgro sold 6,845 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of C$10.06, for a total value of C$68,842.90. Also, Director Michael Allan Mcquade sold 36,260 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$13.80, for a total value of C$500,388.00. Company insiders own 7.57% of the company’s stock.

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.