Cormark Boosts Algoma Steel Group (TSE:ASTL) Price Target to C$18.75

Algoma Steel Group (TSE:ASTL) had its price objective raised by Cormark from C$14.50 to C$18.75 in a research report report published on Monday morning, BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Algoma Steel Group from C$15.00 to C$16.00 and gave the stock a buy rating in a research note on Monday, June 24th. BMO Capital Markets decreased 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 note on Monday, June 24th.

Algoma Steel Group Trading Up 0.6 %

Shares of Algoma Steel Group stock opened at C$11.91 on Monday. The company has a fifty day simple moving average of C$10.43 and a 200-day simple moving average of C$10.90. Algoma Steel Group has a 12-month low of C$8.71 and a 12-month high of C$13.54. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83. The stock has a market cap of C$1.24 billion, a price-to-earnings ratio of 18.61 and a beta of 1.54.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 19th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $0.20 annualized dividend and a yield of 1.68%. Algoma Steel Group’s dividend payout ratio (DPR) is currently 42.19%.

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.