Champion Iron (TSE:CIA) Sets New 1-Year Low – Here’s What Happened

Champion Iron Limited (TSE:CIA) shares hit a new 52-week low on Monday. The stock traded as low as C$2.94 and last traded at C$2.99, with a volume of 116995 shares. The stock had previously closed at C$3.05.

Wall Street Analyst Weigh In

Several brokerages have commented on CIA. Scotia decreased their price target on shares of Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. TD upped their price objective on Champion Iron from C$5.00 to C$6.50 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. 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. Finally, Scotiabank decreased their target price on Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$6.08.

Champion Iron Stock Down 0.7%

The company has a debt-to-equity ratio of 87.81, a quick ratio of 2.01 and a current ratio of 1.56. The firm has a market cap of C$1.68 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of -1.35 and a beta of 0.53. The firm has a 50-day moving average price of C$3.35 and a two-hundred day moving average price of C$4.10.

About Champion Iron

Champion is a high-purity iron ore producer with operations in Canada and Norway. Through Quebec Iron Ore Inc, Champion owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15M wmt per year that produce low contaminant high-purity iron ore concentrates with a proven ability to produce direct reduction grade quality iron ore concentrate.