Canaccord Genuity Group Has Lowered Expectations for Champion Iron (TSE:CIA) Stock Price

Champion Iron (TSE:CIA) had its target price decreased by equities researchers at Canaccord Genuity Group from C$5.50 to C$3.75 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price indicates a potential upside of 99.47% from the company’s current price.

A number of other research analysts have also issued reports on CIA. National Bank Financial dropped their price target on shares of Champion Iron from C$4.00 to C$3.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James Financial cut their price target on shares of Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Thursday. Scotia lowered their price objective on Champion Iron from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a report on Friday. Finally, TD decreased their price target on Champion Iron from C$4.00 to C$3.50 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$4.46.

Champion Iron Stock Performance

Champion Iron stock traded up C$0.01 during trading hours on Friday, reaching C$1.88. 890,744 shares of the stock were exchanged, compared to its average volume of 483,994. The stock has a market cap of C$1.05 billion, a P/E ratio of 9.40, a P/E/G ratio of -1.35 and a beta of 0.53. The company has a debt-to-equity ratio of 92.23, a quick ratio of 2.01 and a current ratio of 1.60. Champion Iron has a 52-week low of C$1.81 and a 52-week high of C$6.14. The firm’s 50 day moving average is C$2.99 and its 200 day moving average is C$4.23.

Champion Iron Company Profile

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.