Algoma Steel Group (TSE:ASTL) Trading Up 4% – Time to Buy?

Algoma Steel Group Inc. (TSE:ASTL) rose 4% during trading on Tuesday . The stock traded as high as C$5.48 and last traded at C$5.45. 507,276 shares traded hands during trading, a decline of 18% from the average daily volume of 618,752 shares. The stock had previously closed at C$5.24.

Analyst Ratings Changes

Separately, Royal Bank Of Canada set a C$7.00 price objective on shares of Algoma Steel Group and gave the company a “sector perform” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$8.17.

Algoma Steel Group Price Performance

The firm has a market cap of C$574.37 million, a PE ratio of -0.53 and a beta of 1.77. The stock has a 50 day simple moving average of C$6.34 and a two-hundred day simple moving average of C$6.19. The company has a debt-to-equity ratio of 175.52, a quick ratio of 1.50 and a current ratio of 2.18.

Algoma Steel Group (TSE:ASTL) last issued its earnings results on Tuesday, May 12th. The company reported C($1.46) EPS for the quarter. The company had revenue of C$296.90 million during the quarter. Algoma Steel Group had a negative return on equity of 125.08% and a negative net margin of 47.22%. Sell-side analysts expect that Algoma Steel Group Inc. will post 1.4795699 earnings per share for the current year.

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.