BMO Capital Markets Cuts Algoma Central (TSE:ALC) Price Target to C$15.00

Algoma Central (TSE:ALC) had its price target reduced by equities researchers at BMO Capital Markets from C$18.00 to C$15.00 in a research report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 0.20% from the stock’s previous close.

Algoma Central Trading Up 0.3 %

Algoma Central stock traded up C$0.04 during trading on Monday, reaching C$14.97. 3,464 shares of the company were exchanged, compared to its average volume of 7,544. Algoma Central has a 52-week low of C$14.03 and a 52-week high of C$15.60. The company has a debt-to-equity ratio of 50.70, a current ratio of 0.76 and a quick ratio of 2.06. The stock’s 50 day simple moving average is C$14.87 and its two-hundred day simple moving average is C$14.81. The company has a market capitalization of C$612.89 million, a P/E ratio of 8.31 and a beta of 0.72.

Insider Buying and Selling at Algoma Central

In related news, Director Richard Brydone Carty sold 2,000 shares of Algoma Central stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$15.10, for a total value of C$30,200.00. 54.61% of the stock is currently owned by corporate insiders.

Algoma Central Company Profile

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.