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Algoma Steel Group ( (TSE:ASTL) ) just unveiled an announcement.
On September 29, 2025, Algoma Steel Group Inc. announced securing C$500 million in liquidity support from the Canadian and Ontario governments to navigate trade uncertainties and advance its business transformation. The funding comes amid the imposition of a 50% tariff on Canadian steel by the U.S., which has closed the U.S. market to Canadian steelmakers. Algoma plans to exit its blast furnace and coke ovens operations, transitioning to Electric Arc Furnace steelmaking, focusing on products for the Canadian market. This strategic shift aims to align with market realities and reinforce Algoma’s role in supporting Canada’s industrial and economic priorities.
The most recent analyst rating on (TSE:ASTL) stock is a Buy with a C$13.00 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.
The overall stock score for Algoma Steel Group is heavily influenced by substantial financial challenges and weak technical indicators. The company’s negative profitability metrics and declining revenue are significant concerns. Additionally, the technical analysis suggests bearish momentum, further impacting the score. Although the dividend yield provides some reassurance, the negative P/E ratio indicates ongoing earnings difficulties, resulting in an overall cautious outlook.
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, Canada, is a fully integrated producer of hot and cold rolled steel products, including sheet and plate. The company serves various sectors such as automotive, construction, energy, defense, and manufacturing, and is the only producer of discrete plate products in Canada. Algoma is committed to modernizing its operations by adopting electric arc technology to reduce carbon emissions, positioning itself as a leading producer of green steel in North America.
YTD Price Performance: -60.23%
Average Trading Volume: 465,247
Technical Sentiment Signal: Sell
Current Market Cap: C$578.2M
Find detailed analytics on ASTL stock on TipRanks’ Stock Analysis page.