Champion Iron (TSE:CIA) Sets New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

CIA has been the topic of several analyst reports. Scotia dropped their target price on Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating on the stock in a report on Friday, July 31st. National Bank Financial dropped their price objective on shares of Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Scotiabank reduced their target price on shares of Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating on the stock in a research report on Monday, June 15th. TD upped their target price on shares of Champion Iron from C$5.00 to C$6.50 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets lowered shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$6.08.

Champion Iron Stock Performance

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 company has a 50 day moving average of C$3.56 and a 200 day moving average of C$4.25. The firm has a market cap of C$1.78 billion, a price-to-earnings ratio of 15.85, a PEG ratio of -1.35 and a beta of 0.30.

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.