Champion Iron (TSE:CIA) Stock Price Down 1.4% on Analyst Downgrade

Champion Iron Limited (TSE:CIA)’s stock price dropped 1.4% on Thursday after Scotiabank lowered their price target on the stock from C$6.75 to C$6.50. Scotiabank currently has a sector perform rating on the stock. Champion Iron traded as low as C$4.91 and last traded at C$4.92. Approximately 64,094 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 364,991 shares. The stock had previously closed at C$4.99.

A number of other equities research analysts have also issued reports on the company. Citigroup raised Champion Iron to a “strong-buy” rating in a research note on Sunday, January 19th. B. Riley upgraded shares of Champion Iron to a “strong-buy” rating in a research report on Tuesday, January 21st. Desjardins upgraded shares of Champion Iron to a “moderate buy” rating in a research report on Thursday, October 31st. Raymond James set a C$8.00 price objective on shares of Champion Iron and gave the company an “outperform” rating in a research note on Thursday, January 2nd. Finally, TD Securities cut their price objective on shares of Champion Iron from C$8.00 to C$7.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$7.44.

Champion Iron Price Performance

The business has a fifty day moving average price of C$5.24 and a 200 day moving average price of C$5.45. The company has a market capitalization of C$2.62 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39. The company has a debt-to-equity ratio of 42.65, a current ratio of 2.42 and a quick ratio of 2.01.

Champion Iron (TSE:CIA) last issued its quarterly earnings data on Thursday, October 31st. The company reported C$0.04 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.11 by C($0.07). Champion Iron had a net margin of 17.64% and a return on equity of 22.52%. During the same period in the prior year, the company earned $0.12 earnings per share. On average, research analysts expect that Champion Iron Limited will post 0.5958254 earnings per share for the current fiscal year.

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.