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

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

Algoma Central Stock Up 0.3 %

Algoma Central stock traded up C$0.04 during trading on Monday, reaching C$14.97. The stock had a trading volume of 3,464 shares, compared to its average volume of 7,544. The company has a quick ratio of 2.06, a current ratio of 0.76 and a debt-to-equity ratio of 50.70. Algoma Central has a 52-week low of C$14.03 and a 52-week high of C$15.60. The stock has a market cap of C$612.89 million, a PE ratio of 8.31 and a beta of 0.72. The business has a 50 day moving average price of C$14.87 and a 200 day moving average price of C$14.81.

Insider Activity

In other news, Director Richard Brydone Carty sold 2,000 shares of the company’s stock in a transaction 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. Company insiders own 54.61% of the company’s stock.

About Algoma Central

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.