Champion Iron (TSE:CIA) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Champion Iron Limited (TSE:CIA)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$4.87 and traded as low as C$3.81. Champion Iron shares last traded at C$3.86, with a volume of 335,991 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CIA. TD boosted 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. Scotiabank cut their target price on Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating on the stock in a research note on Monday, June 15th. BMO Capital Markets lowered Champion Iron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, National Bank Financial decreased their price target on Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating for the company in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$6.08.

Champion Iron Stock Performance

The stock has a market cap of C$2.16 billion, a price-to-earnings ratio of 12.03, a PEG ratio of -1.35 and a beta of 0.31. The company’s 50 day simple moving average is C$4.19 and its 200 day simple moving average is C$4.86. The company has a debt-to-equity ratio of 70.43, a quick ratio of 2.01 and a current ratio of 2.60.

Champion Iron (TSE:CIA) last issued its quarterly earnings results on Thursday, May 28th. The company reported C$0.05 earnings per share for the quarter. The company had revenue of C$414.50 million during the quarter. Champion Iron had a net margin of 9.55% and a return on equity of 11.36%. On average, equities research analysts anticipate that Champion Iron Limited will post 0.5958254 earnings per share for the current 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.