Algoma Steel Group (TSE:ASTL) Shares Down 3.9% - Here's Why

Algoma Steel Group Inc. (TSE:ASTL - Get Free Report)'s stock price dropped 3.9% during mid-day trading on Tuesday . The company traded as low as C$9.89 and last traded at C$10.08. Approximately 261,493 shares were traded during trading, an increase of 260% from the average daily volume of 72,729 shares. The stock had previously closed at C$10.49.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reduced their price target on Algoma Steel Group from C$22.00 to C$21.00 and set a "buy" rating on the stock in a report on Monday, January 13th.

Algoma Steel Group Stock Performance

The company has a market cap of C$1.10 billion, a PE ratio of -7.27 and a beta of 1.50. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. The business has a fifty day moving average of C$12.15 and a 200-day moving average of C$13.44.

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.