Stifel Nicolaus Raises Algoma Steel Group (TSE:ASTL) Price Target to C$22.00

Algoma Steel Group (TSE:ASTL) had its target price raised by Stifel Nicolaus from C$20.00 to C$22.00 in a research report released on Friday,BayStreet.CA reports.

Separately, BMO Capital Markets upped their target price on Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th.

Algoma Steel Group Trading Down 1.4 %

Shares of ASTL stock opened at C$15.49 on Friday. The business’s fifty day moving average price is C$14.36 and its 200 day moving average price is C$12.48. Algoma Steel Group has a 1-year low of C$9.16 and a 1-year high of C$16.83. The firm has a market capitalization of C$1.61 billion, a PE ratio of -70.41 and a beta of 1.50. The company has a debt-to-equity ratio of 40.70, a current ratio of 4.19 and a quick ratio of 1.51.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.29%. Algoma Steel Group’s dividend payout ratio is presently -122.73%.

Insiders Place Their Bets

In other news, Director Michael Allan Mcquade sold 36,260 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$13.80, for a total value of C$500,388.00. Also, Director David Daniel Sgro sold 6,845 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total value of C$68,842.90. 7.57% of the stock is currently owned by insiders.

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.