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

Champion Iron Limited (TSE:CIA – Get Free Report) shares reached a new 52-week low on Monday. The stock traded as low as C$3.02 and last traded at C$3.05, with a volume of 128427 shares changing hands. The stock had previously closed at C$3.12.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Scotiabank dropped their target price 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. BMO Capital Markets lowered shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. National Bank Financial lowered their price target on Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating on the stock in a report on Tuesday, July 14th. Scotia dropped their price target 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, 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$6.08.

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Champion Iron Stock Down 2.2%

The company has a debt-to-equity ratio of 87.81, a current ratio of 1.56 and a quick ratio of 2.01. The firm has a market capitalization of C$1.71 billion, a P/E ratio of 15.25, a P/E/G ratio of -1.35 and a beta of 0.30. The company’s 50-day simple moving average is C$3.47 and its two-hundred day simple moving average is C$4.18.

Champion Iron Company Profile

(Get Free Report)

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.

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