Champion Iron (TSE:CIA) Reaches New 12-Month High – Here’s Why

Champion Iron Limited (TSE:CIA)’s share price hit a new 52-week high on Thursday . The company traded as high as C$6.14 and last traded at C$6.04, with a volume of 515591 shares trading hands. The stock had previously closed at C$6.09.

Wall Street Analysts Forecast Growth

CIA has been the subject of several research reports. Desjardins boosted their price objective on Champion Iron from C$6.00 to C$7.00 and gave the stock a “buy” rating in a research note on Monday. Raymond James Financial boosted their price target on Champion Iron from C$6.50 to C$7.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$6.13.

Champion Iron Stock Performance

The company has a market cap of C$3.22 billion, a PE ratio of 27.45, a PEG ratio of -1.35 and a beta of 0.61. The company has a debt-to-equity ratio of 57.89, a quick ratio of 2.01 and a current ratio of 2.28. The firm’s 50 day moving average is C$5.27 and its 200-day moving average is C$4.52.

Champion Iron (TSE:CIA) last issued its earnings results on Thursday, October 30th. The company reported C$0.11 earnings per share for the quarter. The business had revenue of C$492.89 million for the quarter. Champion Iron had a return on equity of 9.13% and a net margin of 8.51%. On average, research analysts anticipate that Champion Iron Limited will post 0.5958254 earnings per share for the current fiscal year.

About Champion Iron

Champion Iron Ltd is engaged in the exploration and development of iron ore properties in Quebec, Canada. The company’s operating segment include Mine Site, Exploration and Evaluation, and Corporate. It generates maximum revenue from Mine Site segment. The company projects include Fire Lake North, Powderhorn/Gullbridge, Moire, Quinto Claims, Harvey Tuttle, O’keefe-Purdy, and others.