Algoma Steel Group (TSE:ASTL) Shares Down 1.8% – Should You Sell?

Algoma Steel Group Inc. (TSE:ASTL)’s share price dropped 1.8% on Tuesday . The company traded as low as C$12.29 and last traded at C$12.40. Approximately 80,552 shares were traded during trading, a decline of 21% from the average daily volume of 101,775 shares. The stock had previously closed at C$12.63.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price target on Algoma Steel Group from C$20.00 to C$22.00 in a research report on Friday, November 22nd.

Algoma Steel Group Stock Down 1.8 %

The firm has a 50-day moving average price of C$14.62 and a two-hundred day moving average price of C$13.22. The company has a market capitalization of C$1.29 billion, a P/E ratio of -56.36 and a beta of 1.50. The company has a quick ratio of 1.51, a current ratio of 4.19 and a debt-to-equity ratio of 40.70.

Algoma Steel Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio (DPR) is presently -122.73%.

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.