Algoma Steel Group Inc. (ASTL) Stock Falls on Q3 2026 Earnings

By: Quiver EarningsTracker

Posted: 3 hours ago / March 11, 2026 10:31 p.m. UTC

ASTL

Algoma Steel Group Inc. (ASTL) reported third-quarter 2026 revenue of $331.5 million, a 7.5% year-over-year decline, and a diluted loss per share of -2.45. The quarter produced a net loss attributable to common shareholders of $265.7 million.

Income-statement highlights:

Revenue: $331.5 million (down 7.5% year-over-year)

Cost of sales: $611.9 million (up 46.5% year-over-year)

Gross loss: $280.4 million (up 371.9% year-over-year)

Operating loss: $327.6 million (up 295.3% year-over-year)

Net loss attributable to common shareholders: $265.7 million (up 531.5% year-over-year)

Balance-sheet and cash-flow snapshot:

Cash and cash equivalents: $56.5 million (down 69.6% year-over-year)

Cash from operating activities: -$2.2 million (down 96.0% year-over-year)

Purchases of property, plant and equipment: -$37.5 million (down 46.7% year-over-year)

Total liabilities: $1.18 billion (up 1.3% year-over-year)

Market reaction: shares of Algoma Steel Group Inc. (ASTL) were down 7.04% since market close.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Algoma Steel Group Inc. Hedge Fund Activity

We have seen 66 institutional investors add shares of Algoma Steel Group Inc. stock to their portfolio, and 84 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MAPLE ROCK CAPITAL PARTNERS INC. added 4,000,000 shares (+38.3%) to their portfolio in Q4 2025, for an estimated $16,399,999
MMCAP INTERNATIONAL INC. SPC added 3,409,033 shares (+42.2%) to their portfolio in Q4 2025, for an estimated $13,977,035
CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. added 2,264,863 shares (+inf%) to their portfolio in Q4 2025, for an estimated $9,285,938
J. GOLDMAN & CO LP removed 2,263,011 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $9,278,345
CONTRARIAN CAPITAL MANAGEMENT, L.L.C. removed 2,037,686 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $8,354,512
INTACT INVESTMENT MANAGEMENT INC. removed 2,007,006 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $7,134,906
TD ASSET MANAGEMENT INC added 1,571,184 shares (+1351.7%) to their portfolio in Q4 2025, for an estimated $6,441,854

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Algoma Steel Group Inc. Price Targets

Multiple analysts have issued price targets for $ASTL recently. We have seen 2 analysts offer price targets for $ASTL in the last 6 months, with a median target of $6.0.

Here are some recent targets:

An analyst from Jefferies set a target price of $6.0 on 01/02/2026
James McGarragle from RBC Capital set a target price of $6.0 on 10/02/2025