Algoma Steel Group (TSE:ASTL) Price Target Lowered to C$21.00 at Stifel Nicolaus

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

Algoma Steel Group Stock Performance

Shares of TSE:ASTL traded up C$0.06 during trading on Monday, reaching C$11.92. 124,349 shares of the company's stock traded hands, compared to its average volume of 85,209. The stock has a market capitalization of C$1.24 billion, a P/E ratio of -54.18 and a beta of 1.50. Algoma Steel Group has a 12 month low of C$9.16 and a 12 month high of C$16.83. The company has a 50 day moving average of C$14.40 and a 200-day moving average of C$13.30. 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 firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were paid a dividend of $0.05 per share. 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 payout ratio is currently -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.