5 Best Steel Stocks to Invest In

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In this article, we will take a look at the 5 best steel stocks to invest in. To read our analysis of the recent trends and market activity, you can go to the 10 Best Steel Stocks to Invest In.

5. Algoma Steel Group Inc. (NASDAQ:ASTL)

Number of Hedge Fund Holders: 31

Ontario, Canada-based Algoma Steel Group Inc. (NASDAQ:ASTL) is a steel production company with an expertise in the production of hot and cold rolled steel sheet and plate products with a raw steel production capacity of nearly 2.8 million tons per year.

On June 21, Algoma Steel Group Inc. (NASDAQ:ASTL) released its financial results for the quarter ended March 31. It generated a revenue of C$677 million and a net loss of C$20 million. The company paid a quarterly dividend of C$0.05 per share during the quarter.

Algoma Steel Group Inc. (NASDAQ:ASTL) has the highest upside potential based on the average analyst target price of $12.40 which is 68.48% more than the share price on July 14.

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