Champion Iron Limited (TSE:CIA) Stock Now Rated “Buy” by Sell-Side Brokerages

Shares of Champion Iron Limited (TSE:CIA) have been given an average recommendation of “Buy” by the eight research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$5.88.

A number of brokerages recently weighed in on CIA. Scotia cut their price target on shares of Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 31st. Scotiabank lowered their target price on shares of Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a research note on Monday, June 15th. National Bank Financial lowered 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. Raymond James Financial cut their target price on shares of Champion Iron from C$6.25 to C$5.75 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Finally, TD boosted their price target on shares of Champion Iron from C$5.00 to C$6.50 and gave the company a “buy” rating in a report on Tuesday, July 14th.

Champion Iron Trading Down 3.3%

Shares of Champion Iron stock traded down C$0.09 during trading on Tuesday, reaching C$2.67. 211,344 shares of the company were exchanged, compared to its average volume of 443,634. The business has a 50-day moving average price of C$3.29 and a 200-day moving average price of C$4.05. The firm has a market capitalization of C$1.50 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of -1.35 and a beta of 0.53. The company has a quick ratio of 2.01, a current ratio of 1.56 and a debt-to-equity ratio of 87.81. Champion Iron has a twelve month low of C$2.66 and a twelve month high of C$6.14.

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.