Champion Iron (TSE:CIA) Hits New 52-Week Low on Analyst Downgrade

Shares of Champion Iron Limited (TSE:CIA) hit a new 52-week low on Wednesday after Royal Bank Of Canada lowered their price target on the stock from C$8.00 to C$4.00. Royal Bank Of Canada currently has an outperform rating on the stock. Champion Iron traded as low as C$1.75 and last traded at C$1.76, with a volume of 269,885 shares. The stock had previously closed at C$1.80.

Other equities analysts have also recently issued reports about the company. Raymond James Financial cut their price target on Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Canaccord Genuity Group dropped their target price on shares of Champion Iron from C$5.50 to C$3.75 and set a “buy” rating on the stock in a research report on Friday, October 30th. TD cut their target price on shares of Champion Iron from C$4.00 to C$3.50 and set a “buy” rating on the stock in a research note on Friday, October 30th. National Bank Financial reduced their price target on shares of Champion Iron from C$4.00 to C$3.00 and set an “outperform” rating for the company in a report on Friday, October 30th. Finally, Scotiabank downgraded shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$4.41.

Champion Iron Trading Down 3.3%

The firm’s 50-day moving average is C$2.89 and its 200-day moving average is C$4.17. The company has a current ratio of 1.60, a quick ratio of 2.01 and a debt-to-equity ratio of 92.23. The firm has a market cap of C$974.48 million, a price-to-earnings ratio of 174.00, a P/E/G ratio of -1.35 and a beta of 0.53.

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.