Champion Iron (TSE:CIA) Sets New 1-Year Low – Here’s What Happened

Champion Iron Limited (TSE:CIA) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$3.03 and last traded at C$3.04, with a volume of 355278 shares changing hands. The stock had previously closed at C$3.08.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CIA. TD increased their price objective 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 lowered their target price 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. BMO Capital Markets cut Champion Iron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Scotiabank cut their price target on Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating on the stock in a report on Monday, June 15th. Finally, Scotia reduced their price objective on Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$6.08.

Champion Iron Stock Down 1.6%

The company has a quick ratio of 2.01, a current ratio of 1.56 and a debt-to-equity ratio of 87.81. The firm’s 50-day moving average price is C$3.59 and its 200 day moving average price is C$4.28. The firm has a market cap of C$1.70 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of -1.35 and a beta of 0.30.

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.