Algoma Steel Group (TSE:ASTL) Trading Up 0.3% – Here’s Why

Algoma Steel Group Inc. (TSE:ASTL) traded up 0.3% during trading on Monday . The stock traded as high as C$12.03 and last traded at C$11.87. 61,557 shares were traded during mid-day trading, a decline of 12% from the average session volume of 69,932 shares. The stock had previously closed at C$11.84.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reduced 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 note on Monday, January 13th.

Algoma Steel Group Price Performance

The company has a debt-to-equity ratio of 40.70, a current ratio of 4.19 and a quick ratio of 1.51. The stock has a market cap of C$1.24 billion, a price-to-earnings ratio of -53.95 and a beta of 1.50. The company’s 50 day moving average is C$13.35 and its 200 day moving average is C$13.56.

Algoma Steel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Wednesday, November 27th. Algoma Steel Group’s payout ratio is currently -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.