---
title: "Algoma Steel Group (TSE:ASTL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says"
description: "Stifel Nicolaus has raised its price target for Algoma Steel Group (TSE:ASTL) from C.00 to C.00, indicating a potential upside of 40.04% from the current stock price. Despite this positive outlook, Al"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/220514220.md"
published_at: "2024-11-23T19:13:29.000Z"
---

# Algoma Steel Group (TSE:ASTL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

> Stifel Nicolaus has raised its price target for Algoma Steel Group (TSE:ASTL) from C.00 to C.00, indicating a potential upside of 40.04% from the current stock price. Despite this positive outlook, Algoma Steel's stock fell by 1.3% to C.71 during trading. The company has a market cap of C.64 billion and a P/E ratio of -71.41. Recent insider transactions included sales by directors Michael Allan Mcquade and David Daniel Sgro. Algoma Steel primarily produces steel products for various industries in North America.

Algoma Steel Group (TSE:ASTL - Get Free Report) had its price target raised by stock analysts at Stifel Nicolaus from C$20.00 to C$22.00 in a report issued on Friday,BayStreet.CA reports. Stifel Nicolaus' price objective suggests a potential upside of 40.04% from the stock's current price.

Get **Algoma Steel Group** alerts:

Separately, BMO Capital Markets upped their price objective on Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th.

**View Our Latest Report on Algoma Steel Group**

## Algoma Steel Group Stock Down 1.3 %

ASTL traded down C$0.21 during trading hours on Friday, hitting C$15.71. 17,229 shares of the company's stock were exchanged, compared to its average volume of 58,336. The firm has a market cap of C$1.64 billion, a P/E ratio of -71.41 and a beta of 1.50. Algoma Steel Group has a 12-month low of C$9.16 and a 12-month high of C$16.83. The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.70. The firm has a 50 day moving average of C$14.29 and a 200 day moving average of C$12.40.

## Insider Transactions at Algoma Steel Group

In other Algoma Steel Group news, Director Michael Allan Mcquade sold 36,260 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$13.80, for a total transaction of C$500,388.00. Also, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total value of C$68,842.90. Insiders own 7.57% of the company's stock.

## Algoma Steel Group Company Profile

(Get Free Report)

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.

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*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
