Champion Iron (TSE:CIA) Sets New 12-Month Low – Time to Sell?

Champion Iron Limited (TSE:CIA) shares reached a new 52-week low during mid-day trading on Monday. The company traded as low as C$2.29 and last traded at C$2.29, with a volume of 97,607 shares trading hands. The stock had previously closed at C$2.33.

Analysts Set New Price Targets

CIA has been the topic of several research reports. Scotia decreased their price objective on shares of Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating on the stock in a report on Friday, July 31st. TD raised their target price on shares of Champion Iron from C$5.00 to C$6.50 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. National Bank Financial cut their target price on shares of 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. Finally, Raymond James Financial reduced 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$5.88.

Champion Iron Stock Up 0.9%

The company has a market cap of C$1.28 billion, a P/E ratio of 11.45, a PEG ratio of -1.35 and a beta of 0.53. The stock has a 50-day moving average of C$3.16 and a 200 day moving average of C$3.94. 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.