Algoma Steel Group Inc. Price, Forecast, Insider, Ratings, Fundamentals & Signals

Sault ste. marie, ontario, march 26, 2024 (globe newswire) -- algoma steel group inc. (nasdaq: astl; tsx: astl) (“algoma”), a fully integrated producer of hot and cold rolled steel products including sheet and plate, announced today that its indirect wholly-owned subsidiary, algoma steel inc. (“asi”), has priced its previously announced offering of us$350 million aggregate principal amount of 9.125% senior secured second lien notes due 2029 (the “notes”). the notes will be issued at a price of 100% of their face amount, for gross proceeds of us$350 million, and will bear interest at the rate of 9.125% per year. the notes will be guaranteed on a senior secured basis by asi's immediate parent company and all of asi's subsidiaries...

Sault ste. marie, ontario, march 25, 2024 (globe newswire) -- 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 informs its shareholders of an adjustment to the previously announced dividend payment date in respect of the previously announced regularly scheduled dividend payable to holders of record of common shares of the company as of the close of business on february 29, 2024. this adjustment is required due to the occurrence of a canadian statutory holiday on the originally scheduled payment date.

Sault ste. marie, ontario, march 25, 2024 (globe newswire) -- 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 ending march 31, 2024. unless otherwise specified, all amounts are in canadian dollars.

Sault ste. marie, ontario, feb. 26, 2024 (globe newswire) -- 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 announced that the company is participating in the bmo 33rd global metals, mining & critical minerals conference on monday, february 26, 2024 and tuesday, february 27, 2024. prior to algoma's attendance at this conference, the company will post a copy of the presentation it intends to use in the investors section of its website.

Sault ste. marie, ontario, feb. 14, 2024 (globe newswire) -- 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 advised the repair and restart of its blast furnace is complete and steel production resumed on sunday, february 11, 2024.

AIRI, ASTL and BX have been added to the Zacks Rank #5 (Strong Sell) List on February 8, 2023.

Algoma Steel Group Inc. (ASTL) Q3 2024 Earnings Call Transcript

SAULT STE. MARIE, Ontario, Jan. 29, 2024 (GLOBE NEWSWIRE) -- 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, announced today that the Company will release its fiscal 2024 third quarter financial results after the market closes on Tuesday, February 6, 2024. A webcast and conference call will be held on Wednesday, February 7, 2024 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

AAP, ASTL and BANR have been added to the Zacks Rank #5 (Strong Sell) List on January 26, 2023.

Algoma Steel (ASTL) expects challenging third-quarter results due to soft demand, pricing issues from a UAW strike and seasonal maintenance.

Algoma Steel stock is undervalued due to its cost model and ongoing modernization efforts, which will expand production and lower costs. Earnings for the quarter were lower than expected due to UAW strikes and increased commodity input costs. Despite the mediocre earnings, Algoma Steel has made significant progress in de-risking its future prospects through plate mill modernization and the Electric Arc Furnace project.

Algoma Steel Group Inc. is a Canadian steel provider that meets the criteria of being oversold with compelling valuations and a robust balance sheet. The company's shares have been on a downward trend, but there is potential for support at the recent December lows, making it attractive to value investors. Algoma's valuation is significantly lower than the sector average, with cash flow, earnings, and sales all below industry standards.

SAULT STE. MARIE, Ontario, Oct. 23, 2023 (GLOBE NEWSWIRE) -- 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, announced today that the Company will release its fiscal 2024 second quarter financial results after the market closes on Thursday, November 2, 2023. A webcast and conference call will be held on Friday, November 3, 2023 at 10:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel (ASTL) extends its iron ore purchase contract with U.S. Steel for two years, supporting its transition to electric arc furnace steelmaking and commitment to sustainable steel production.

Algoma Steel is transitioning to Electric Arc Furnace steel production, which will reduce maintenance costs, increase steel production, and improve margins. The company is undergoing a modernization project for its plate mill, which will double production capacity and generate incremental revenue and EBITDA. Algoma Steel has a strong financial position, with enough cash on hand to fund the remaining costs of the EAF project without relying on debt or cash flow.