Algoma Steel Group Inc. produces and sells steel products in Canada and the United States. It provides hot and cold rolled steel plate products for construction, mining, manufacturing, energy, shipbuilding, and military applications; and hot and cold rolled sheet steels in carbon and HSLA grades for use in manufacturing applications of automotive industry. Algoma Steel Group Inc. was founded in 1901 and is headquartered in Sault Ste. Marie, Canada.
IPO Year:
Exchange: NASDAQ
Website: algoma.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/18/2023 | Hold → Buy | Stifel | |
| 6/30/2022 | Hold | Stifel | |
| 12/7/2021 | Outperform | BMO Capital Markets |
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Stifel upgraded Algoma Steel Group from Hold to Buy
Stifel initiated coverage of Algoma Steel Group with a rating of Hold
BMO Capital Markets initiated coverage of Algoma Steel Group with a rating of Outperform
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Consolidated Revenue of $589.7 Million Net Loss of $110.6 Million and Adjusted EBITDA Loss of $32.4 Million Achieved First Arc and First Steel Production from Transformative Electric Arc Furnace (EAF) Project SAULT STE. MARIE, Ontario, July 29, 2025 (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 second quarter ended June 30, 2025. Unless otherwise specified, all amounts are in Canadian dollars. Business Highlights and Second Quarter 2025 to Second Quarter 2024 Comparisons Consolidated revenue of $589.7 million, compared
SAULT STE. MARIE, Ontario, July 24, 2025 (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 commented on the ongoing trade impasse and prolonged tariff environment in Canada. Algoma acknowledges the ongoing efforts of Canadian government negotiators to secure a fair and durable trade resolution with the United States. While bilateral trade negotiations continue, the Company is concerned with the significant impact the current 50% Section 232 tariff on Canadian steel is having on its operations and outlook. Algoma is Canada's only independent and publicly o
SAULT STE. MARIE, Ontario, July 18, 2025 (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 it has filed a base shelf prospectus dated July 18, 2025 (the "Base Shelf Prospectus") with the Ontario Securities Commission, relying on the "well-known seasoned issuer" exemption, and a corresponding shelf registration statement on Form F-10 (the "Registration Statement") with the United States Securities and Exchange Commission (the "SEC"). These filings will allow the Company, if it chooses, to make offerings of common shares, preferred shares, deb
SAULT STE. MARIE, Ontario, July 15, 2025 (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 2025 second quarter financial results after the market closes on Tuesday, July 29, 2025. A webcast and conference call will be held on Wednesday, July 30, 2025 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session. The Company also provided guidance for its quarter ended June 30, 2025. Unless otherwise specified, all amounts are in Canadian Dollars. Tot
SAULT STE. MARIE, Ontario, July 10, 2025 (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 it has achieved its first steel production at Unit One of its new, state-of-the-art electric arc furnace ("EAF") project. The milestone follows over ten days of successful electric arc testing and tuning, including individual and tandem tests of all nine Q-One transformer modules. The first arc and steel production marks a pivotal milestone in Algoma's transformation and positions the Company to better meet the evolving needs of its customers throug
SAULT STE. MARIE, Ontario, June 24, 2025 (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 the results of voting at its annual meeting of shareholders (the "Meeting") held on June 24, 2025. All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below: NomineeVotes ForVotes WithheldTotal VotesMary Anne Bueschkens63,288,0461,619,73664,907,782Sean Donnelly63,618,6501,289,13264,907,782M
SAULT STE. MARIE, Ontario, June 04, 2025 (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 the release of its 2024 Sustainability Report (the "Report"), covering a nine-month transition period from April 1 to December 31, 2024. The reporting period aligns with our 2024 financial reporting period, which now corresponds to a calendar year to reflect a consistent approach to our industry peer reporting. Michael Garcia, Algoma's Chief Executive Officer, commented, "At Algoma, sustainability is not a trend—it's a strategic priority. As we are nearing
Consolidated Revenue of $517.1 Million Shipments of 470K Tons, with an 11% Quarter over Quarter increase in Plate Product Shipments, at 91K Tons Net Loss of $24.5 Million and Adjusted EBITDA Loss of $46.7 Million, Including a $50 Million Insurance Proceeds Receivable First Steel Production from Transformative Electric Arc Furnace ("EAF") Expected During Q2 2025 With no Material Change in Both Total Project Cost and 2025 EAF Production Expectations SAULT STE. MARIE, Ontario, April 29, 2025 (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 anno
SAULT STE. MARIE, Ontario, April 22, 2025 (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 2025 first quarter financial results after the market closes on Tuesday, April 29, 2025. A webcast and conference call will be held on Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session. The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company's website at ir.algoma
Calendar Fourth Quarter Results In-Line with Previously Announced Expectations Reaffirmed Outlook on Transformative Electric Arc Furnace (EAF) Project, Including First Arc in April SAULT STE. MARIE, Ontario, March 12, 2025 (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 the three and nine month periods ended December 31, 2024. As previously reported, the Company has changed its fiscal year end from March 31 to December 31, resulting in a transitional nine month fiscal reporting period ending December 31, 2024. Unless
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SAULT STE. MARIE, Ontario, June 24, 2025 (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 the results of voting at its annual meeting of shareholders (the "Meeting") held on June 24, 2025. All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below: NomineeVotes ForVotes WithheldTotal VotesMary Anne Bueschkens63,288,0461,619,73664,907,782Sean Donnelly63,618,6501,289,13264,907,782M
SAULT STE. MARIE, Ontario, Sept. 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, announced today the results of voting at its virtual annual meeting of shareholders held on September 24, 2024 (the "Meeting"). All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below: NomineeVotes ForVotes WithheldTotal VotesMary Anne Bueschkens62,437,35077,69862,515,048Sean Donnelly62,484,96030,08862,
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. Originally from Sault Ste. Marie, Erin is a seasoned Health and Safety professional with over 25 years of experience and a proven track record in enhancing safety culture across sectors including construction, health care, forestry and manufacturing. During her tenure at a Canada-wide mechanical and e
SAULT STE. MARIE, Ontario, Nov. 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, today announced its Vice President - Sales, Rory Brandow, has indicated his pending retirement effective December 1st, 2023. The Company has identified Chris Ford, Algoma's current Director - US Sales and Customer Service, to succeed Rory as Vice President - Commercial. Michael Garcia, the Company's Chief Executive Officer, remarked, "Over an extensive career with Algoma, Rory has personified our core values of safety, teamwork, integrity and caring. He has been a strong
SAULT STE. MARIE, Ontario, Sept. 26, 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 the results of voting at its virtual annual meeting of shareholders held on September 26, 2023 (the "Meeting"). All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below: NomineeVotes ForVotes WithheldTotal VotesMary Anne Bueschkens55,557,5361,702,80257,260,338Michael Garcia55,925,2951,335
SAULT STE. MARIE, Ontario, Sept. 19, 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 as part of its longstanding support of the United Way, it is making a C$120,000 donation spread over three years to the United Way's Harvest Algoma project. The United Way's Harvest Algoma, a hub for food rescue, preparation and production, gathers food donations and distributes them across the community of Sault St. Marie to over 70 partner agencies. Algoma's donation follows a call for community support to help Harvest Algoma secure a three-year fu
SAULT STE. MARIE, Ontario, March 13, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ:ASTL, TSX:ASTL) ("Algoma" or the "Corporation"), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the appointment of EllisDon as Construction Manager for completion of its transformative Electric Arc Furnace (EAF) project. EllisDon brings over 70 years of industrial and civil construction management expertise and experience to the project bolstering Algoma's internal project team as Algoma's EAF facility continues to progress. "We are very proud to join Algoma's team in one of Canada's largest electrification projects targeting reduced carbon em
SAULT STE. MARIE, Ontario, Sept. 20, 2022 (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 the results of voting at its virtual annual meeting of shareholders held on September 20, 2022 (the "Meeting"). All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below: NomineeVotes ForVotes WithheldTotal VotesMary Anne Bueschkens54,807,492186,31054,993,802James Gouin54,947,85245,95154,9
SAULT STE. MARIE, Ontario, April 18, 2022 (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 the appointment of Michael Garcia as Chief Executive Officer ("CEO") effective June 1st, 2022 upon the retirement of current CEO Michael McQuade. Mr. McQuade will continue to serve on the Company's board of directors (the "Board") and Mr. Garcia will also join the Board concurrent with his appointment as CEO. Andy Harshaw, Chairman of the Board, commented, "Mike McQuade has provided exemplary leadership through this transition period, taking Algoma from
SAULT STE. MARIE, Ontario, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. ("Algoma") (NASDAQ:ASTL, TSX:ASTL), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its Chief Commercial Officer Robert Dionisi, has indicated his pending retirement effective May 1st, 2022. The Company has identified Rory Brandow, Algoma's current Director of Regional Sales to succeed Robert as Vice President of Sales. Algoma Chief Executive Officer Michael McQuade remarked, "Over a rich, 42-year career with Algoma Rob has exemplified Algoma's trademark mantra, ‘Your Partner in Steel' building strong and lasting relationships with customers across a mult
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Consolidated Revenue of $589.7 Million Net Loss of $110.6 Million and Adjusted EBITDA Loss of $32.4 Million Achieved First Arc and First Steel Production from Transformative Electric Arc Furnace (EAF) Project SAULT STE. MARIE, Ontario, July 29, 2025 (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 second quarter ended June 30, 2025. Unless otherwise specified, all amounts are in Canadian dollars. Business Highlights and Second Quarter 2025 to Second Quarter 2024 Comparisons Consolidated revenue of $589.7 million, compared
SAULT STE. MARIE, Ontario, July 15, 2025 (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 2025 second quarter financial results after the market closes on Tuesday, July 29, 2025. A webcast and conference call will be held on Wednesday, July 30, 2025 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session. The Company also provided guidance for its quarter ended June 30, 2025. Unless otherwise specified, all amounts are in Canadian Dollars. Tot
Consolidated Revenue of $517.1 Million Shipments of 470K Tons, with an 11% Quarter over Quarter increase in Plate Product Shipments, at 91K Tons Net Loss of $24.5 Million and Adjusted EBITDA Loss of $46.7 Million, Including a $50 Million Insurance Proceeds Receivable First Steel Production from Transformative Electric Arc Furnace ("EAF") Expected During Q2 2025 With no Material Change in Both Total Project Cost and 2025 EAF Production Expectations SAULT STE. MARIE, Ontario, April 29, 2025 (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 anno
SAULT STE. MARIE, Ontario, April 22, 2025 (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 2025 first quarter financial results after the market closes on Tuesday, April 29, 2025. A webcast and conference call will be held on Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session. The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company's website at ir.algoma
Calendar Fourth Quarter Results In-Line with Previously Announced Expectations Reaffirmed Outlook on Transformative Electric Arc Furnace (EAF) Project, Including First Arc in April SAULT STE. MARIE, Ontario, March 12, 2025 (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 the three and nine month periods ended December 31, 2024. As previously reported, the Company has changed its fiscal year end from March 31 to December 31, resulting in a transitional nine month fiscal reporting period ending December 31, 2024. Unless
SAULT STE. MARIE, Ontario, Feb. 27, 2025 (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 financial results for the three and nine months ended December 31, 2024 after the market closes on Wednesday, March 12, 2025. As previously reported, the Company has changed its fiscal year end from March 31 to December 31, resulting in a nine month fiscal reporting period ending December 31, 2024. A webcast and conference call will be held on Thursday, March 13, 2025 at 11:00 a.m. Eastern Time to review the Company's resul
Second Quarter Results In-Line with Previously Announced Expectations Transformative Electric Arc Furnace (EAF) Commissioning Activities Expected to Start on Schedule During the Fourth Quarter of Calendar 2024; Substantially all of Expected Project Budget Now Fully Contracted Change in Fiscal Year end from March 31 to December 31, beginning December 31, 2024 SAULT STE. MARIE, Ontario, Nov. 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, today announced results for its fiscal second quarter ended September 30, 2024. Unless otherwise specified, all
SAULT STE. MARIE, Ontario, Oct. 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 2025 second quarter financial results after the market closes on Wednesday, November 6, 2024. A webcast and conference call will be held on Thursday, November 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. The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company's website
First Quarter Results In-Line with Previously Announced Outlook Completed Plate Mill Upgrade, Ramping Production Towards Expected Annual Run Rate Capacity of Over 650,000 NT Continued to Significantly De-risk Transformative Electric Arc Furnace Project as Construction Continues on Schedule Announces Intention to Relaunch Normal Course Issuer Bid SAULT STE. MARIE, Ontario, Aug. 13, 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 first quarter ended June 30, 2024. Unless otherwise specified, all amounts are in Can
SAULT STE. MARIE, Ontario, Aug. 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 2025 first quarter financial results after the market closes on Tuesday, August 13, 2024. A webcast and conference call will be held on Wednesday, August 14, 2024 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session. The live webcast and archived replay of the conference call can be accessed on the Investors section of the Company's website at w
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SC 13G/A - Algoma Steel Group Inc. (0001860805) (Subject)
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