Champion Iron (TSE:CIA) Hits New 52-Week Low – Here’s Why

Champion Iron Limited (TSE:CIA) hit a new 52-week low on Thursday . The company traded as low as C$3.45 and last traded at C$3.48, with a volume of 561627 shares changing hands. The stock had previously closed at C$3.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CIA shares. National Bank Financial reduced their price objective on Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Scotiabank lowered their target price on shares of Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a research note on Monday, June 15th. TD increased their target price on shares of Champion Iron from C$5.00 to C$6.50 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets lowered shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$6.08.

Champion Iron Price Performance

The company has a current ratio of 2.60, a quick ratio of 2.01 and a debt-to-equity ratio of 70.43. The business has a 50-day moving average price of C$4.09 and a two-hundred day moving average price of C$4.78. The firm has a market capitalization of C$1.96 billion, a price-to-earnings ratio of 10.94, a PEG ratio of -1.35 and a beta of 0.31.

Champion Iron (TSE:CIA) last announced its quarterly earnings results on Thursday, May 28th. The company reported C$0.05 earnings per share (EPS) for the quarter. Champion Iron had a return on equity of 11.36% and a net margin of 9.55%.The business had revenue of C$414.50 million for the quarter. As a group, research analysts forecast that Champion Iron Limited will post 0.5958254 EPS for the current 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.