Stifel Nicolaus Has Lowered Expectations for Algoma Steel Group (TSE:ASTL) Stock Price

Algoma Steel Group (TSE:ASTL) had its price objective lowered by Stifel Nicolaus from C$22.00 to C$21.00 in a research note released on Monday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Algoma Steel Group Stock Up 0.5 %

TSE:ASTL opened at C$11.92 on Monday. The company has a market cap of C$1.24 billion, a price-to-earnings ratio of -54.18 and a beta of 1.50. The company has a debt-to-equity ratio of 40.70, a quick ratio of 1.51 and a current ratio of 4.19. The stock’s fifty day moving average price is C$14.40 and its two-hundred day moving average price is C$13.30. Algoma Steel Group has a 52-week low of C$9.16 and a 52-week high of C$16.83.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 27th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio is -122.73%.

Algoma Steel Group Company Profile

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.