Algoma Steel Group Inc. [ASTL] Revenue clocked in at $2.77 billion, up 11.56% YTD: What’s Next?

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Algoma Steel Group Inc. [NASDAQ: ASTL] plunged by -$0.04 during the normal trading session on Thursday and reaching a high of $12.50 during the day while it closed the day at $12.06. The company report on March 23, 2022 that Algoma Steel Provides Fiscal Fourth Quarter 2022 Guidance.


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Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal fourth quarter 2022.

Fiscal fourth quarter 2022 shipments are expected to be in a range of 540,000 to 550,000 tons, and Adjusted EBITDA is expected to be in a range of CAD$310 million to CAD$320 million.

Algoma Steel Group Inc. stock has also gained 9.94% of its value over the past 7 days. However, ASTL stock has inclined by 28.30% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.64% and gained 11.56% year-on date.

The market cap for ASTL stock reached $1.39 billion, with 112.08 million shares outstanding and 94.82 million shares in the current float. Compared to the average trading volume of 713.75K shares, ASTL reached a trading volume of 2602837 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Algoma Steel Group Inc. [ASTL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASTL shares is $17.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASTL stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BMO Capital Markets have made an estimate for Algoma Steel Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 07, 2021.

The Average True Range (ATR) for Algoma Steel Group Inc. is set at 0.58, with the Price to Sales ratio for ASTL stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 2.00, with the Price to Cash per share for the same quarter was set at 4.03.

ASTL stock trade performance evaluation

Algoma Steel Group Inc. [ASTL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.94. With this latest performance, ASTL shares gained by 40.40% in over the last four-week period, additionally plugging by 10.64% over the last 6 months – not to mention a rise of 25.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASTL stock in for the last two-week period is set at 72.04, with the RSI for the last a single of trading hit 76.48, and the three-weeks RSI is set at 67.70 for Algoma Steel Group Inc. [ASTL]. The present Moving Average for the last 50 days of trading for this stock 9.63, while it was recorded at 11.56 for the last single week of trading.

Algoma Steel Group Inc. [ASTL]: An insightful look at the core fundamentals

When it comes to the capital structure of this company, Algoma Steel Group Inc. [ASTL] has a Total Debt to Total Equity ratio set at 257.85. Additionally, ASTL Total Debt to Total Capital is recorded at 72.06, with Total Debt to Total Assets ending up at 60.72.

Reflecting on the efficiency of the workforce at the company, Algoma Steel Group Inc. [ASTL] managed to generate an average of -$351 per employee.Algoma Steel Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.80.

Algoma Steel Group Inc. [ASTL]: Insider Ownership positions

There are presently around $667 million, or 50.50% of ASTL stock, in the hands of institutional investors. The top three institutional holders of ASTL stocks are: BAIN CAPITAL CREDIT, LP with ownership of 13,994,433, which is approximately New of the company’s market cap and around 5.07% of the total institutional ownership; CONTRARIAN CAPITAL MANAGEMENT, L.L.C., holding 6,075,238 shares of the stock with an approximate value of $73.51 million in ASTL stocks shares; and GOLDENTREE ASSET MANAGEMENT LP, currently with $53.5 million in ASTL stock with ownership of nearly New of the company’s market capitalization.

Positions in Algoma Steel Group Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 52 institutional holders increased their position in Algoma Steel Group Inc. [NASDAQ:ASTL] by around 47,544,793 shares. Additionally, 34 investors decreased positions by around 6,149,490 shares, while 2 investors held positions by with 1,424,694 shares. The mentioned changes placed institutional holdings at 55,118,977 shares, according to the latest SEC report filing. ASTL stock had 39 new institutional investments in for a total of 44,455,555 shares, while 19 institutional investors sold positions of 2,858,460 shares during the same period.

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