Algoma Steel Group (TSE:ASTL) Hits New 52-Week Low – Here’s What Happened

Algoma Steel Group Inc. (TSE:ASTL)’s share price reached a new 52-week low during trading on Friday . The company traded as low as C$9.16 and last traded at C$9.17, with a volume of 210782 shares. The stock had previously closed at C$9.64.

Wall Street Analyst Weigh In

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

Algoma Steel Group Stock Down 4.9 %

The business’s 50-day moving average is C$11.81 and its 200-day moving average is C$13.36. The company has a market capitalization of C$952.49 million, a price-to-earnings ratio of -6.29 and a beta of 1.50. The company has a quick ratio of 1.51, a current ratio of 3.31 and a debt-to-equity ratio of 43.70.

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.