Stelco (STLC) Shares Up 9.3%

Stelco Holdings Inc (TSE:STLC) shares shot up 9.3% on Wednesday . The company traded as high as C$20.42 and last traded at C$19.73. 131,275 shares changed hands during mid-day trading, an increase of 32% from the average session volume of 99,205 shares. The stock had previously closed at C$18.05.

A number of research firms have weighed in on STLC. National Bank Financial boosted their target price on shares of Stelco from C$33.00 to C$34.50 and gave the company an “outperform” rating in a research note on Thursday, August 2nd. BMO Capital Markets dropped their price target on shares of Stelco from C$35.00 to C$30.00 in a research note on Thursday, September 20th. Finally, CSFB dropped their price target on shares of Stelco from C$35.00 to C$30.00 in a research note on Monday, October 15th.

The company has a debt-to-equity ratio of 18.60, a quick ratio of 1.41 and a current ratio of 2.26.

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About Stelco (TSE:STLC)

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.

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