Latest news with #AlgomaSteelGroupInc.
Calgary Herald
11 hours ago
- Business
- Calgary Herald
Canadian steel firms say weak tariff response risks wider layoffs
A group of Canadian steel producers said the government's plan to restrict foreign steel imports isn't strong enough and warned that the industry is set to shed thousands more jobs because of U.S. tariffs. Article content Prime Minister Mark Carney's government introduced new tariff-rate quotas last week to limit imports of steel and said it may adjust tariffs on U.S. steel products on July 21, depending on the status of trade talks with the Trump administration. Article content Article content The U.S. has increased tariffs on foreign steel and aluminum to 50%. So far, Canada has decided not to match that, keeping its retaliatory levies at 25%. Article content Article content 'We have significantly dropped shipments and have experienced close to 1,000 job losses to date and are preparing for thousands more,' Catherine Cobden, chief executive officer of the Canadian Steel Producers Association, said in a statement Thursday. 'We are concerned that the immediate measures fail to address the crisis we are in.' Article content The tariff-rate quotas apply to steel-exporting countries that Canada doesn't have a trade agreement with. They only kick in if those countries exceed the volumes of steel they shipped to Canada last year. That 'will do little to support our industry,' said the CSPA, which represents producers including Algoma Steel Group Inc. and ArcelorMittal SA. Article content Article content The United Steelworkers union also criticized the government's plan as 'too narrow,' saying it doesn't apply to two-thirds of imports to Canada, including from countries including South Korea and Vietnam, 'despite repeated dumping violations.' Article content Article content
Yahoo
21-04-2025
- Business
- Yahoo
Promising Penny Stocks To Consider In April 2025
Over the last 7 days, the market has dropped 1.1%, but over the longer term, it has risen by 5.9% in the last year, with earnings forecast to grow by 13% annually. Investing in penny stocks—though a somewhat outdated term—can still provide access to growth opportunities, particularly in smaller or newer companies that exhibit strong financial health. This article highlights three penny stocks that combine balance sheet strength with potential for significant gains, offering investors a chance to uncover hidden value in quality companies. Name Share Price Market Cap Financial Health Rating Safe Bulkers (NYSE:SB) $3.30 $345.99M ★★★★☆☆ Tuya (NYSE:TUYA) $1.95 $1.16B ★★★★★★ Smith Micro Software (NasdaqCM:SMSI) $0.9144 $16.25M ★★★★☆☆ Flexible Solutions International (NYSEAM:FSI) $3.78 $47.81M ★★★★★★ Imperial Petroleum (NasdaqCM:IMPP) $2.46 $74.62M ★★★★★★ BAB (OTCPK:BABB) $0.81 $5.88M ★★★★★★ QuantaSing Group (NasdaqGM:QSG) $3.08 $218.76M ★★★★★★ Lifetime Brands (NasdaqGS:LCUT) $3.81 $84.44M ★★★★★☆ New Horizon Aircraft (NasdaqCM:HOVR) $0.4476 $14.05M ★★★★★★ CBAK Energy Technology (NasdaqCM:CBAT) $0.7043 $63.34M ★★★★★☆ Click here to see the full list of 781 stocks from our US Penny Stocks screener. Here we highlight a subset of our preferred stocks from the screener. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Algoma Steel Group Inc. is a producer and seller of steel products operating in Canada, the United States, and internationally with a market cap of approximately $503.32 million USD. Operations: The company's revenue is primarily generated from its Basic Steel Production segment, which accounted for CA$2.45 billion. Market Cap: $503.32M Algoma Steel Group Inc., with a market cap of approximately US$503.32 million, operates in the steel production sector and has faced challenges with profitability, reporting a net loss of CA$167 million for the nine months ending December 31, 2024. Despite its unprofitability and negative return on equity of -14.76%, the company maintains a satisfactory net debt to equity ratio of 26.8% and covers both short-term and long-term liabilities with assets totaling CA$1.5 billion. While revenue is forecasted to grow by 14.05% annually, operating cash flow remains negative, impacting debt coverage capabilities. Click here and access our complete financial health analysis report to understand the dynamics of Algoma Steel Group. Review our growth performance report to gain insights into Algoma Steel Group's future. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Oportun Financial Corporation offers financial services in the United States and has a market cap of approximately $166.58 million. Operations: The company generates revenue primarily from its Financial Services - Consumer segment, which accounted for $763.62 million. Market Cap: $166.58M Oportun Financial Corporation, with a market cap of US$166.58 million, faces significant financial challenges despite generating US$763.62 million in revenue primarily from its consumer finance segment. The company remains unprofitable and has seen its debt to equity ratio increase significantly over the past five years to 792.6%. However, it maintains a positive cash flow and sufficient short-term assets (US$3 billion) to cover liabilities, offering some stability amidst volatility concerns. Recent developments include securing a new warehouse facility with borrowing capacity of approximately US$187.5 million and facing activist investor pressure for leadership changes aimed at improving shareholder value. Click to explore a detailed breakdown of our findings in Oportun Financial's financial health report. Examine Oportun Financial's earnings growth report to understand how analysts expect it to perform. Simply Wall St Financial Health Rating: ★★★★☆☆ Overview: Granite Ridge Resources, Inc. is a non-operated oil and natural gas exploration and production company with a market cap of approximately $654.06 million. Operations: The company generates revenue of $359.03 million from its oil and natural gas development, exploration, and production segment. Market Cap: $654.06M Granite Ridge Resources, Inc., with a market cap of US$654.06 million, has faced profitability challenges, reporting a significant decline in net income to US$18.76 million for 2024 from the previous year's US$81.1 million. The company experienced a net loss in Q4 2024 and reported impairments of long-lived assets totaling US$35.64 million for the quarter. Despite these setbacks, Granite Ridge's production increased by 7% in Q4 and is projected to rise further in 2025. While its dividend yield is high at 8.8%, it isn't well supported by earnings or free cash flow, raising sustainability concerns amidst volatile returns and lower profit margins compared to last year. Jump into the full analysis health report here for a deeper understanding of Granite Ridge Resources. Evaluate Granite Ridge Resources' prospects by accessing our earnings growth report. Access the full spectrum of 781 US Penny Stocks by clicking on this link. Searching for a Fresh Perspective? Uncover 10 companies that survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGM:ASTL NasdaqGS:OPRT and NYSE:GRNT. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. 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