Algoma Steel Group (TSE:ASTL) Price Target Raised to C$18.75 at Cormark

Algoma Steel Group (TSE:ASTL) had its price objective lifted by Cormark from C$14.50 to C$18.75 in a research note released on Monday morning, BayStreet.CA reports.

ASTL has been the subject of a number of other reports. Stifel Nicolaus lifted their price target on shares of Algoma Steel Group from C$15.00 to C$16.00 and gave the company a buy rating in a research report on Monday, June 24th. BMO Capital Markets dropped their price objective on shares of Algoma Steel Group from C$14.00 to C$13.00 and set an outperform rating for the company in a report on Monday, June 24th.

Algoma Steel Group Price Performance

Shares of ASTL opened at C$11.84 on Monday. Algoma Steel Group has a 1-year low of C$8.71 and a 1-year high of C$13.54. The stock has a market cap of C$1.23 billion, a PE ratio of 18.50 and a beta of 1.54. The firm has a 50-day simple moving average of C$10.40 and a two-hundred day simple moving average of C$10.89. The company has a debt-to-equity ratio of 10.83, a current ratio of 2.88 and a quick ratio of 1.51.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, July 2nd. Algoma Steel Group’s dividend payout ratio (DPR) is currently 42.19%.

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.