Algoma Steel Group (TSE:ASTL) Reaches New 12-Month Low – Here’s What Happened

Algoma Steel Group Inc. (TSE:ASTL) shares hit a new 52-week low on Friday . The company traded as low as C$9.16 and last traded at C$9.17, with a volume of 210782 shares trading hands. The stock had previously closed at C$9.64.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reduced their price target on shares of Algoma Steel Group from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Monday, January 13th.

Algoma Steel Group Trading Down 4.9 %

The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The company has a market capitalization of C$952.49 million, a price-to-earnings ratio of -6.29 and a beta of 1.50. The business’s 50 day simple moving average is C$11.71 and its 200 day simple moving average is C$13.34.

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.