Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Algoma Steel Group ( (TSE:ASTL) ) has issued an announcement.
On July 24, 2025, Algoma Steel Group Inc. addressed the ongoing trade impasse and tariff challenges with the United States, highlighting the detrimental impact of the 50% Section 232 tariff on Canadian steel on its operations. The company is nearing completion of a significant investment in electric arc furnace technology to reduce its carbon footprint and improve financial performance. Algoma is exploring liquidity support options, including a $500 million application to the Canadian government’s Large Enterprise Tariff Loan program, to maintain operations and diversify its customer base. The company emphasizes the need for policy support to ensure the viability of Canadian steelmakers and their contribution to national interests.
The most recent analyst rating on (TSE:ASTL) stock is a Hold with a C$8.00 price target. To see the full list of analyst forecasts on Algoma Steel Group stock, see the TSE:ASTL Stock Forecast page.
Spark’s Take on TSE:ASTL Stock
According to Spark, TipRanks’ AI Analyst, TSE:ASTL is a Neutral.
Algoma Steel’s overall stock score reflects significant financial challenges, with negative profitability and cash flow constraints weighing heavily. Technical analysis provides a moderate positive outlook due to upward momentum. However, the company’s valuation is hindered by net losses. The ongoing EAF transition could offer strategic advantages, but financial improvements are critical for a more favorable stock assessment.
To see Spark’s full report on TSE:ASTL stock, click here.
More about Algoma Steel Group
Algoma Steel Group Inc., based in Sault Ste. Marie, Ontario, is a fully integrated producer of hot and cold rolled steel products, including sheet and plate. The company serves sectors such as automotive, construction, energy, defense, and manufacturing, and is the only producer of discrete plate products in Canada. Algoma is committed to environmental stewardship and is modernizing its operations to become a leading producer of green steel in North America.
Average Trading Volume: 352,426
Technical Sentiment Signal: Hold
Current Market Cap: C$965.4M
See more data about ASTL stock on TipRanks’ Stock Analysis page.