Champion Iron (TSE:CIA) Reaches New 52-Week Low – Should You Sell?

Shares of Champion Iron Limited (TSE:CIA) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$3.42 and last traded at C$3.51, with a volume of 206067 shares traded. The stock had previously closed at C$3.71.

Wall Street Analyst Weigh In

A number of research firms have commented on CIA. Scotiabank raised Champion Iron from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from C$6.00 to C$5.50 in a research note on Monday. Citigroup upgraded shares of Champion Iron to a “strong-buy” rating in a report on Sunday, January 19th. Desjardins raised shares of Champion Iron to a “moderate buy” rating in a research note on Friday, April 4th. Raymond James reduced their price target on shares of Champion Iron from C$8.00 to C$7.50 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Finally, B. Riley raised shares of Champion Iron to a “strong-buy” rating in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Champion Iron presently has a consensus rating of “Buy” and an average price target of C$7.06.

Champion Iron Price Performance

The company’s 50-day moving average price is C$4.73 and its 200-day moving average price is C$5.21. The company has a quick ratio of 2.01, a current ratio of 2.28 and a debt-to-equity ratio of 57.89. The firm has a market cap of C$1.87 billion, a price-to-earnings ratio of 14.44, a PEG ratio of -1.35 and a beta of 1.39.

About Champion Iron

Champion Iron Limited engages in the acquisition, exploration, development, and production of iron ore deposits in Canada. Its flagship projects include the Bloom Lake Mine located in south end of the Labrador; the Consolidated Fire Lake North project that includes the Fire Lake North, Don Lake, Bellechasse, and Oil Can deposits situated in Quebec; and the Kamistiatusset project located in the Labrador.