Algoma Steel Group (TSE:ASTL) Issues Earnings Results

Algoma Steel Group (TSE:ASTL) released its earnings results on Wednesday. The company reported C($1.18) earnings per share for the quarter, FiscalAI reports. The company had revenue of C$249.40 million during the quarter. Algoma Steel Group had a negative net margin of 55.02% and a negative return on equity of 180.34%.

Algoma Steel Group Price Performance

Shares of TSE ASTL traded up C$0.22 during trading hours on Wednesday, reaching C$6.94. 517,695 shares of the stock traded hands, compared to its average volume of 617,168. The company has a market capitalization of C$731.40 million, a P/E ratio of -0.68 and a beta of 1.74. The company has a quick ratio of 1.50, a current ratio of 2.49 and a debt-to-equity ratio of 368.00. Algoma Steel Group has a 52-week low of C$4.46 and a 52-week high of C$8.16. The company’s 50-day simple moving average is C$6.08 and its two-hundred day simple moving average is C$6.15.

Analysts Set New Price Targets

A number of research firms have recently commented on ASTL. Royal Bank Of Canada set a C$6.00 price target on Algoma Steel Group and gave the stock a “sector perform” rating in a report on Wednesday, September 2nd. BMO Capital Markets decreased their price objective on Algoma Steel Group from C$7.00 to C$6.00 and set a “market perform” rating on the stock in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Algoma Steel Group has a consensus rating of “Hold” and an average target price of C$6.00.

About Algoma Steel Group

Based in Sault Ste. Marie, Ontario, Algoma is a leading Canadian producer of high-quality plate and sheet steel products, proudly supporting critical sectors including energy, defence, automotive, shipbuilding, and infrastructure. Guided by a purpose to build better lives and a greener future, Algoma is shaping the next generation of sustainable steelmaking in Canada. With the transition to electric arc furnace (EAF) steelmaking and a modernized plate mill, Algoma is redefining how steel is made in Canada.