Stelco Holdings Inc (STLC) Receives a Buy from BMO Capital

By Carrie Williams

Today, an analyst has provided a rating update for Stelco Holdings Inc (STLCResearch Report). The company received a Buy rating from BMO Capital’s analyst David Gagliano, with a C$26 price target.

According to TipRanks.com, Gagliano has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.9% and a 41.0% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Cloud Peak Energy Inc, Ramaco Resources Inc, and United States Steel.

Stelco Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of C$37.50.

Based on Stelco Holdings Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$619 million and net profit of C$125 million. In comparison, last year the company had a GAAP net loss of C$3.58 million.

Stelco Holdings, Inc. engages in the production and sale of steel products. Its products include hot rolled, coated, cold rolled, and other. It supports a range of customers in the field of steel service centre, appliance, automotive, energy, construction, pipe and tube industries in North America.

The company’s shares closed on Tuesday at C$15.81.