Champion Iron (TSE:CIA) Stock Passes Below 200 Day Moving Average – Should You Sell?

Shares of Champion Iron Limited (TSE:CIA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$4.58 and traded as low as C$3.37. Champion Iron shares last traded at C$3.37, with a volume of 649,687 shares trading hands.

Analyst Upgrades and Downgrades

CIA has been the topic of a number of research analyst reports. BMO Capital Markets downgraded Champion Iron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. TD lifted their price objective on Champion Iron from C$5.00 to C$6.50 and gave the stock a “buy” rating in a report on Tuesday, July 14th. National Bank Financial decreased their target price on Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. Scotia lowered their target price on shares of Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 31st. Finally, Scotiabank dropped their price target on shares of Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating on the stock in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Champion Iron currently has a consensus rating of “Buy” and an average price target of C$6.08.

Champion Iron Stock Performance

The firm has a market capitalization of C$1.89 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of -1.35 and a beta of 0.29. The company has a current ratio of 1.56, a quick ratio of 2.01 and a debt-to-equity ratio of 87.81. The business’s 50 day simple moving average is C$3.82 and its two-hundred day simple moving average is C$4.58.

Champion Iron (TSE:CIA) last released 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 6.81% and a net margin of 5.99%.The firm had revenue of C$414.50 million for the quarter. Research analysts expect that Champion Iron Limited will post 0.5958254 earnings per share for the current fiscal year.

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.