Algoma Steel Group (TSE:ASTL) Given a C$8.00 Price Target by Royal Bank of Canada Analysts

Algoma Steel Group (TSE:ASTL) has been given a C$8.00 price objective by Royal Bank of Canada in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 17.13% from the company’s previous close.

ASTL has been the topic of a number of other research reports. BMO Capital Markets lowered their target price on shares of Algoma Steel Group from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus lowered their price objective on Algoma Steel Group from C$15.25 to C$14.75 and set a “hold” rating for the company in a research note on Thursday, April 17th.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at C$6.83 on Tuesday. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. The firm has a fifty day simple moving average of C$8.46 and a two-hundred day simple moving average of C$11.89. Algoma Steel Group has a 12 month low of C$5.91 and a 12 month high of C$16.83. The firm has a market capitalization of C$709.43 million, a PE ratio of -4.69 and a beta of 1.50.

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.