Stelco (TSE:STLC) Trading 74% Higher

Stelco Holdings Inc (TSE:STLC)’s stock price traded up 74% during trading on Monday . The company traded as high as C$65.00 and last traded at C$65.00. 200,338 shares were traded during mid-day trading, an increase of 4% from the average session volume of 193,160 shares. The stock had previously closed at C$37.36.

Wall Street Analyst Weigh In

Several brokerages have commented on STLC. Royal Bank of Canada lowered their price target on Stelco from C$47.00 to C$43.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. BMO Capital Markets lowered their price target on Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. lowered their price target on Stelco from C$50.00 to C$47.00 and set an “overweight” rating on the stock in a report on Tuesday, June 11th. Stifel Nicolaus lowered their price target on Stelco from C$49.00 to C$47.00 in a report on Friday, May 10th. Finally, Cormark reduced their price objective on Stelco from C$60.00 to C$58.50 in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$49.61.

Stelco Stock Performance

The company has a market capitalization of C$3.58 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 0.03 and a beta of 2.40. The company has a debt-to-equity ratio of 58.19, a current ratio of 2.07 and a quick ratio of 1.55. The stock has a 50 day moving average price of C$39.31 and a two-hundred day moving average price of C$41.46.

Stelco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.08%. Stelco’s dividend payout ratio (DPR) is presently 49.50%.

Stelco Company Profile

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.