Champion Iron (TSE:CIA) Trading Down 1.4% on Analyst Downgrade

Shares of Champion Iron Limited (TSE:CIA) dropped 1.4% during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from C$6.75 to C$6.50. Scotiabank currently has a sector perform rating on the stock. Champion Iron traded as low as C$4.91 and last traded at C$4.92. Approximately 64,094 shares were traded during trading, a decline of 82% from the average daily volume of 364,991 shares. The stock had previously closed at C$4.99.

Several other research analysts have also weighed in on the company. Desjardins raised Champion Iron to a “moderate buy” rating in a research report on Thursday, October 31st. B. Riley upgraded Champion Iron to a “strong-buy” rating in a report on Tuesday, January 21st. Citigroup upgraded Champion Iron to a “strong-buy” rating in a report on Sunday, January 19th. TD Securities lowered their price objective on shares of Champion Iron from C$8.00 to C$7.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Raymond James set a C$8.00 target price on shares of Champion Iron and gave the stock an “outperform” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Champion Iron has an average rating of “Buy” and an average price target of C$7.44.

Champion Iron Stock Performance

The company has a market capitalization of C$2.61 billion, a P/E ratio of 8.82, a P/E/G ratio of -1.35 and a beta of 1.39. The company has a current ratio of 2.42, a quick ratio of 2.01 and a debt-to-equity ratio of 42.65. The company’s fifty day moving average is C$5.24 and its 200 day moving average is C$5.45.

Champion Iron (TSE:CIA) last issued its earnings results on Thursday, October 31st. The company reported C$0.04 EPS for the quarter, missing the consensus estimate of C$0.11 by C($0.07). Champion Iron had a return on equity of 22.52% and a net margin of 17.64%. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, equities analysts anticipate that Champion Iron Limited will post 0.5958254 earnings per share for the current year.

Champion Iron Company Profile

Champion Iron Limited engages in the acquisition, exploration, development, and production of iron ore deposits in Canada. Its flagship projects include the Bloom Lake Mine located in south end of the Labrador; the Consolidated Fire Lake North project that includes the Fire Lake North, Don Lake, Bellechasse, and Oil Can deposits situated in Quebec; and the Kamistiatusset project located in the Labrador.