Algoma Steel
ASTL

$8.67

0.46%

Market Cap: 903M

About: Algoma Steel Group Inc is a Canadian company engaged in the production of clean and consistent light gauge steel. The company offers a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production including sheets, plates, slabs, and freights. The company's revenue is generated from contracts to produce, ship, and deliver steel products Geographically it serves Canada, the United States, and the rest of the world, whilst driving key revenue from domestic sales. The company generates the majority of its revenue from the sale of Steel sheets and strips.

Employees: 2,844

0

Funds holding %

of 6,702 funds

–

Analysts bullish %

–

News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

325% more call options, than puts

Call options by funds: $9.39M | Put options by funds: $2.21M

0.32% less ownership

Funds ownership: 68.81% [Q4 2023] → 68.49% (-0.32%) [Q1 2024]

8% less funds holding in top 10

Funds holding in top 10: 12 [Q4 2023] → 11 (-1) [Q1 2024]

9% less funds holding

Funds holding: 116 [Q4 2023] → 106 (-10) [Q1 2024]

15% less capital invested

Capital invested by funds: $715M [Q4 2023] → $605M (-$110M) [Q1 2024]

24% less repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 41

50% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 20

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Research analyst outlook

We haven’t received any recent analyst ratings for ASTL.

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Financial journalist opinion

Algoma Steel: Canadian Steel At 3.5 Times The LTM EBITDA

Algoma Steel Group Inc. faced challenges in FY 2024 due to weak steel prices and a structural corridor failure, impacting financial performance. Despite challenges, Algoma Steel reported profitability and strong operating cash flow, with plans to commission a new Electric Arc Furnace. The company's investment thesis remains positive, with potential for improved margins and outsized EBITDA and free cash flow results post-EAF commissioning.

Algoma Steel: Canadian Steel At 3.5 Times The LTM EBITDA

Algoma Steel Group to Participate at the Stifel Canada's 3rd Annual Summer Solstice Conference

SAULT STE. MARIE, Ontario, June 24, 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 will participate at the Stifel Canada's 3rd Annual Summer Solstice Conference on Monday, June 24, 2024 to Wednesday, June 26, 2024 in Minett, Muskoka Lakes. Prior to Algoma's attendance at this conference, the Company will post a copy of the presentation in the Investors section of its website.

Algoma Steel Group to Participate at the Stifel Canada's 3rd Annual Summer Solstice Conference

Algoma Steel Group Inc. (ASTL) Q4 2024 Earnings Call Transcript

Algoma Steel Group Inc. (NASDAQ:ASTL ) Q4 2024 Earnings Conference Call June 21, 2024 11:00 AM ET Company Participants Michael Moraca - Vice President, Corporate Development and Treasurer Michael Garcia - Chief Executive Officer Rajat Marwah - Chief Financial Officer Conference Call Participants David Ocampo - Cormark Securities Ian Gillies - Stifel Katja Jancic - BMO Capital Markets Operator Greetings. Welcome to Algoma Steel Group Incorporated Full Year Fiscal 2024 Earnings Call.

Algoma Steel Group Inc. (ASTL) Q4 2024 Earnings Call Transcript

Algoma Steel Group Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results

Fourth Quarter Results In-Line with Previously Announced Expectations Plate and Strip Operations Running at Planned Production Levels Reaffirmed Outlook on Transformative Electric Arc Furnace (EAF) Project Provides Outlook for Q1 Fiscal 2025 Further Strengthened Liquidity with US$350 Million Senior Secured Second Lien Note Financing SAULT STE. MARIE, Ontario, June 20, 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 results for its fiscal fourth quarter and full year ended March 31, 2024.

Algoma Steel Group Reports Fiscal Fourth Quarter and Full Year 2024 Financial Results

Algoma Steel Appoints Erin Oliver as Vice President - Health and Safety

SAULT STE. MARIE, June 11, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that it has appointed Erin Oliver in a newly created role of Vice President - Health and Safety. Erin will report to CEO Mike Garcia and sit on the Company's senior leadership team.

Algoma Steel Appoints Erin Oliver as Vice President - Health and Safety

Algoma Steel to Announce Fiscal 2024 Fourth Quarter and Full Year Results June 20, 2024

SAULT STE. MARIE, Ontario, June 06, 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 fourth quarter and full year financial results after the market closes on Thursday, June 20, 2024. A webcast and conference call will be held on Friday, June 21, 2024 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel to Announce Fiscal 2024 Fourth Quarter and Full Year Results June 20, 2024

Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029

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. ASI intends to use the net proceeds from the offering of the Notes for general corporate purposes, adding strength and flexibility to its balance sheet. The offering of the Notes is expected to close on or about April 5, 2024, subject to customary closing conditions.

Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029

CORRECTION: Dividend Payment Date Adjustment Due to Canadian Statutory Holiday

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.

CORRECTION: Dividend Payment Date Adjustment Due to Canadian Statutory Holiday

Algoma Steel Provides Fiscal Fourth Quarter 2024 Guidance

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.

Algoma Steel Provides Fiscal Fourth Quarter 2024 Guidance

Algoma Steel: Underpriced From Both Cyclical And EAF Perspectives

Algoma Steel Group is transforming its steel-making process from Blast Furnace to Electric Arc Furnace, which is expected to improve margins.

Algoma Steel: Underpriced From Both Cyclical And EAF Perspectives

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