Champion Iron (TSE:CIA) Reaches New 52-Week Low – Here’s What Happened

Champion Iron Limited (TSE:CIA) shares reached a new 52-week low during trading on Tuesday. The stock traded as low as C$2.68 and last traded at C$2.69, with a volume of 71,145 shares changing hands. The stock had previously closed at C$2.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CIA shares. TD lifted their target price 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. Raymond James Financial lowered their target price on shares of Champion Iron from C$6.25 to C$5.75 and set an “outperform” rating for the company in a report on Wednesday, October 7th. Scotiabank dropped their price objective 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. Scotia dropped their price objective on 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, National Bank Financial reduced their price target on shares of Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating for the company in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$5.88.

Champion Iron Stock Performance

The firm’s fifty day simple moving average is C$3.29 and its 200 day simple moving average is C$4.05. The company has a market capitalization of C$1.49 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of -1.35 and a beta of 0.53. The company has a debt-to-equity ratio of 87.81, a current ratio of 1.56 and a quick ratio of 2.01.

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.