Algoma Central (TSE:ALC) Stock Price Crosses Above 50 Day Moving Average of $14.30

Algoma Central Co. (TSE:ALC)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$14.30 and traded as high as C$14.74. Algoma Central shares last traded at C$14.74, with a volume of 5,402 shares.

Analyst Upgrades and Downgrades

Separately, Cormark upped their price objective on shares of Algoma Central from C$18.50 to C$19.50 in a research report on Thursday, May 2nd.

Algoma Central Stock Performance

The firm has a market capitalization of C$595.97 million, a price-to-earnings ratio of 8.85 and a beta of 0.72. The company has a current ratio of 0.65, a quick ratio of 2.06 and a debt-to-equity ratio of 56.47. The stock’s 50-day moving average is C$14.31 and its 200-day moving average is C$14.61.

Algoma Central Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.76 annualized dividend and a dividend yield of 5.17%. Algoma Central’s payout ratio is 45.78%.

About Algoma Central

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.