Algoma Steel Group (TSE:ASTL) Trading Up 2.3% - Time to Buy?

Algoma Steel Group Inc. (TSE:ASTL - Get Free Report) was up 2.3% on Thursday . The stock traded as high as C$5.85 and last traded at C$5.78. Approximately 487,628 shares changed hands during trading, an increase of 3% from the average daily volume of 471,768 shares. The stock had previously closed at C$5.65.Get Algoma Steel Group alerts:Analyst Ratings ChangesA number of brokerages have weighed in on ASTL. Royal Bank Of Canada reduced their target price on Algoma Steel Group from C$8.00 to C$6.00 and set a "sector perform" rating on the stock in a report on Thursday, October 2nd. Stifel Nicolaus upped their price objective on Algoma Steel Group from C$10.75 to C$11.50 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$8.50.Get Our Latest Stock Report on ASTLAlgoma Steel Group Stock Up 2.3%The company has a market capitalization of C$606.52 million, a price-to-earnings ratio of -3.99 and a beta of 1.55. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The firm's fifty day moving average price is C$5.42 and its 200-day moving average price is C$6.91. Algoma Steel Group (TSE:ASTL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C($4.46) earnings per share for the quarter. Algoma Steel Group had a negative return on equity of 10.66% and a negative net margin of 6.33%.The firm had revenue of C$523.90 million for the quarter. Sell-side analysts expect that Algoma Steel Group Inc. will post 1.4795699 earnings per share for the current fiscal year. Algoma Steel Group Company Profile (Get Free Report)Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales.Featured ArticlesFive stocks we like better than Algoma Steel GroupWhat Are Treasury Bonds?The Trade Desk: After a 70% Plunge, This Could Be The Time to Buy10 Best Airline Stocks to BuyTap Into 2026 AI Infrastructure Gains With This High-Growth ETFHow to trade penny stocks: A step-by-step guideStrong Quarter, Weak Reaction: Why GitLab Shares DroppedThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Algoma Steel Group Right Now?Before you consider Algoma Steel Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Algoma Steel Group wasn't on the list.While Algoma Steel Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here