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Algoma Steel Group Inc - ASTL STOCK NEWS

Welcome to our dedicated news page for Algoma Steel Group (Ticker: ASTL), a resource for investors and traders seeking the latest updates and insights on Algoma Steel Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Algoma Steel Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Algoma Steel Group's position in the market.

News
Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029
Rhea-AI Summary
Algoma Steel Group Inc. announced the pricing of US$350 million aggregate principal amount of 9.125% Senior Secured Second Lien Notes due 2029 by its subsidiary, Algoma Steel Inc. The Notes will be issued at a price of 100% of their face amount, with an interest rate of 9.125% per year, providing financial flexibility for general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.48%
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none
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News
CORRECTION: Dividend Payment Date Adjustment Due to Canadian Statutory Holiday
Rhea-AI Summary
Algoma Steel Group Inc. (ASTL) adjusts dividend payment date due to a Canadian statutory holiday, moving it to March 28, 2024, from the original date of March 29, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.94%
Tags
dividends
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News
Algoma Steel Inc. Announces Proposed Offering of US$350 Million of Senior Secured Second Lien Notes due 2029
Rhea-AI Summary
Algoma Steel Group Inc. announced the offering of US$350 million Senior Secured Second Lien Notes due 2029 by its subsidiary, Algoma Steel Inc., to enhance its balance sheet. The Notes will be guaranteed by ASI's parent company and subsidiaries, with the proceeds intended for general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.3%
Tags
none
News
Algoma Steel Provides Fiscal Fourth Quarter 2024 Guidance
Rhea-AI Summary
Algoma Steel Group Inc. provides guidance for its fiscal fourth quarter, expecting total steel shipments of 445,000 to 460,000 tons and Adjusted EBITDA of $30 million to $40 million. An unplanned outage at the blast furnace impacted production by 120,000 to 150,000 net tons, affecting EBITDA performance. The company anticipates improved results in the fiscal first quarter with strong market demand and rising prices for Hot Rolled Coil. The Electric Arc Furnace project remains on track and within budget, with commissioning activities set to begin by the end of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.3%
Tags
earnings
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News
Algoma Steel Group to Participate in the BMO 33rd Global Metals, Mining & Critical Minerals Conference
Rhea-AI Summary
Algoma Steel Group Inc. (ASTL) is set to participate in the BMO 33rd Global Metals, Mining & Critical Minerals Conference, showcasing its products and strategies to investors. The Company will share its presentation online for stakeholders' reference.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.84%
Tags
conferences
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News
Algoma Resumes Normal Steel Production
Rhea-AI Summary
Algoma Steel Group Inc. (ASTL) successfully completes blast furnace repair and resumes steel production. The company strengthens operations post-structure collapse, focusing on utilities corridor repairs and increasing coke-making capacity.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.93%
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none
News
Algoma Addresses Casthouse Incident
Rhea-AI Summary
Algoma Steel Group Inc. reports an incident at the blast furnace complex, with 12 workers impacted. Five employees were treated at the hospital and discharged. The incident did not affect the blast furnace recovery, and the restart timing remains on schedule.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.4%
Tags
none
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News
Algoma Steel Group Reports Fiscal Third Quarter 2024 Financial Results
Rhea-AI Summary
Algoma Steel Group Inc. (ASTL) announced fiscal third quarter results, with revenue of $615.4 million, a loss from operations of $36.9 million, and a net loss of $84.8 million. Adjusted EBITDA improved year-over-year, with shipments of 516,068 tons, and completion of extensive maintenance. The collapse of a structure at the coke-making plant is expected to impact shipments, costs, and profitability in the fourth quarter. The transformative EAF project is on track with $509.9 million invested and 86% of anticipated costs under contract. A quarterly dividend of US$0.05/share was paid.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.36%
Tags
earnings
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News
Algoma Steel to Announce Fiscal 2024 Third Quarter Results February 6, 2024
Rhea-AI Summary
Algoma Steel Group Inc. (ASTL) is set to release its fiscal 2024 third quarter financial results on February 6, 2024, followed by a webcast and conference call on February 7, 2024. The company is a leading Canadian producer of hot and cold rolled steel sheet and plate products.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.69%
Tags
earnings
News
Algoma Steel Provides Update on Incident at Coke-Making Plant
Rhea-AI Summary
Algoma Steel Group Inc. provided an update on the incident at its coke-making plant, assuring the containment of the water-related environmental release and minimal impact on the adjacent waterway. The company is actively assessing coke-making capacity and expects to resume production within two weeks, with potential impact on shipments. The Blast Furnace operations were temporarily suspended for safety reasons, and work is underway to restart the furnace. The combined plate/strip mill and cold mill operations remain unaffected, and the company is sourcing adequate coke from third-party suppliers. Algoma is prioritizing safety and environmental concerns while expediting repairs and assessments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.88%
Tags
none
Stock ASTL logo
Algoma Steel Group Inc

Nasdaq:ASTL

ASTL Rankings

#2542 Ranked by Market Cap
#1850 Ranked by Stock Gains
#1257 Ranked by Dividends

ASTL Stock Data

796.10M
88.29M
4.86%
69.89%
3.58%
Iron and Steel Mills and Ferroalloy Manufacturing
Manufacturing
Link
CA
Ontario

About ASTL

essar steel algoma inc. is a fully integrated steel producer with a manufacturing capacity approaching 4 million tons per annum. we are an organization of action-oriented, customer-focused, original thinkers who are dedicated to best practices and continuous improvement. acquired by essar in 2007, essar brings a wealth of technical know-how and a proven positive attitude to algoma’s 100+ years of steelmaking tradition. essar produces some of the cleanest, most consistent light gauge steel in north america, specializing in carbon and high strength low-alloy (hsla) grades. our direct strip production complex offers superior surface quality, dimensional control and consistent chemical and mechanical properties, and our highly automated plate mill produces a full range of as-rolled and heat treated plate. together these facilities produce quality steel products that exceed most international performance standards for manufacturing, construction, mining, energy, ship, rail and military ap