Algoma Steel Group (TSE:ASTL) Hits New 1-Year High at $14.07

Algoma Steel Group Inc. (TSE:ASTL)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$14.07 and last traded at C$14.03, with a volume of 33271 shares changing hands. The stock had previously closed at C$13.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ASTL. Stifel Nicolaus lifted their price target on Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th. Cormark lifted their target price on Algoma Steel Group from C$14.50 to C$18.75 in a research note on Monday, July 22nd. Finally, BMO Capital Markets increased their price target on shares of Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th.

Algoma Steel Group Trading Up 2.2 %

The company has a debt-to-equity ratio of 40.70, a quick ratio of 1.51 and a current ratio of 4.19. The company’s fifty day moving average is C$11.73 and its two-hundred day moving average is C$11.10. The company has a market cap of C$1.49 billion, a price-to-earnings ratio of -65.05 and a beta of 1.48.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio is presently -122.73%.

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.