Champion Iron (TSE:CIA) Hits New 12-Month Low on Analyst Downgrade

Champion Iron Limited (TSE:CIA) reached a new 52-week low on Wednesday after Royal Bank Of Canada lowered their price target on the stock from C$8.00 to C$4.00. Royal Bank Of Canada currently has an outperform rating on the stock. Champion Iron traded as low as C$1.75 and last traded at C$1.76, with a volume of 269,885 shares. The stock had previously closed at C$1.80.

Other analysts have also recently issued research reports about the stock. TD reduced their price objective on shares of Champion Iron from C$4.00 to C$3.50 and set a “buy” rating on the stock in a research note on Friday, October 30th. Scotia reduced their price target on Champion Iron from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a research report on Friday, October 30th. Canaccord Genuity Group reduced their price target on Champion Iron from C$5.50 to C$3.75 and set a “buy” rating on the stock in a research report on Friday, October 30th. National Bank Financial decreased their price target on Champion Iron from C$4.00 to C$3.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. Finally, Raymond James Financial cut their price objective on Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$4.41.

Champion Iron Stock Performance

The company has a debt-to-equity ratio of 92.23, a quick ratio of 2.01 and a current ratio of 1.60. The stock has a fifty day simple moving average of C$2.89 and a two-hundred day simple moving average of C$4.17. The stock has a market capitalization of C$974.48 million, a price-to-earnings ratio of 174.00, a P/E/G ratio of -1.35 and a beta of 0.53.

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.