Algoma Steel Group (TSE:ASTL) Trading Down 3.9% – What’s Next?

Algoma Steel Group Inc. (TSE:ASTL) shares dropped 3.9% during mid-day trading on Tuesday . The company traded as low as C$9.89 and last traded at C$10.08. Approximately 261,493 shares were traded during mid-day trading, an increase of 260% from the average daily volume of 72,729 shares. The stock had previously closed at C$10.49.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus cut their price objective 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 Stock Performance

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 cap of C$1.05 billion, a price-to-earnings ratio of -6.92 and a beta of 1.50. The firm has a 50 day simple moving average of C$12.34 and a 200-day simple moving average of C$13.48.

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.