Champion Iron (TSE:CIA) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Champion Iron Limited (TSE:CIA)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$4.38 and traded as low as C$3.41. Champion Iron shares last traded at C$3.42, with a volume of 527,409 shares traded.

Analyst Ratings Changes

CIA has been the subject of a number of analyst reports. National Bank Financial reduced their price target on 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 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. 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 report on Monday, June 15th. Scotia reduced their target price on Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating for the company in a research note on Friday, July 31st. Finally, BMO Capital Markets downgraded shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$6.08.

Champion Iron Stock Up 1.2%

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’s 50-day moving average price is C$3.68 and its 200 day moving average price is C$4.37. The firm has a market cap of C$1.94 billion, a P/E ratio of 17.30, a PEG ratio of -1.35 and a beta of 0.30.

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.