Scotia Issues Pessimistic Forecast for Champion Iron (TSE:CIA) Stock Price

Champion Iron (TSE:CIA) had its target price decreased by stock analysts at Scotia from C$4.00 to C$3.50 in a research report issued to clients and investors on Friday, BayStreet reports. The firm currently has a “sector perform” rating on the stock. Scotia‘s target price points to a potential upside of 86.17% from the stock’s current price.

Several other brokerages have also weighed in on CIA. National Bank Financial decreased their price objective 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. TD raised their price objective on Champion Iron from C$5.00 to C$6.50 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Raymond James Financial reduced their target price on Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$4.46.

Champion Iron Stock Performance

CIA traded up C$0.01 during trading on Friday, reaching C$1.88. The company’s stock had a trading volume of 890,744 shares, compared to its average volume of 483,994. 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 company’s fifty day moving average price is C$2.99 and its 200-day moving average price is C$4.23. The company has a market capitalization of C$1.05 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of -1.35 and a beta of 0.53. Champion Iron has a 52-week low of C$1.81 and a 52-week high of C$6.14.

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.