Champion Iron (TSE:CIA) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Champion Iron Limited (TSE:CIA)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$4.62 and traded as low as C$3.72. Champion Iron shares last traded at C$3.76, with a volume of 645,991 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CIA shares. BMO Capital Markets downgraded Champion Iron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Scotiabank dropped their price objective on 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. Finally, National Bank Financial set a C$5.75 target price on Champion Iron and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$6.05.

Champion Iron Price Performance

The stock has a market capitalization of C$2.14 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of -1.35 and a beta of 0.29. 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 company’s 50 day moving average is C$4.57 and its 200 day moving average is C$5.07.

Champion Iron (TSE:CIA) last released its quarterly earnings data on Thursday, May 28th. The company reported C$0.05 earnings per share (EPS) for the quarter. The company had revenue of C$414.50 million during the quarter. Champion Iron had a net margin of 9.48% and a return on equity of 11.28%. Research analysts anticipate that Champion Iron Limited will post 0.5958254 EPS for the current fiscal 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.