Algoma Steel Group (TSE:ASTL) Reaches New 12-Month High at $13.54

Algoma Steel Group Inc. (TSE:ASTL)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$13.54 and last traded at C$13.32, with a volume of 153161 shares changing hands. The stock had previously closed at C$12.16.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ASTL shares. BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$14.00 to C$13.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. Stifel Nicolaus boosted their target price on Algoma Steel Group from C$15.00 to C$16.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Cormark raised their price target on Algoma Steel Group from C$14.50 to C$18.75 in a research report on Monday, July 22nd.

Algoma Steel Group Stock Up 0.1 %

The company has a quick ratio of 1.51, a current ratio of 2.88 and a debt-to-equity ratio of 10.83. The firm’s fifty day simple moving average is C$10.59 and its 200-day simple moving average is C$10.89. The company has a market cap of C$1.36 billion, a PE ratio of 20.45 and a beta of 1.54.

Algoma Steel Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 19th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, July 2nd. Algoma Steel Group’s payout ratio 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.