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

Champion Iron Limited (TSE:CIA)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as C$2.68 and last traded at C$2.69, with a volume of 71,145 shares changing hands. The stock had previously closed at C$2.76.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CIA. Scotia reduced 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 target 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. TD lifted their price objective on Champion Iron from C$5.00 to C$6.50 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Raymond James Financial cut their price objective on Champion Iron from C$6.25 to C$5.75 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$5.88.

Champion Iron Trading Down 0.4%

The company’s 50-day moving average is C$3.26 and its 200-day moving average is C$4.01. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of -1.35 and a beta of 0.53. The company has a debt-to-equity ratio of 87.81, a quick ratio of 2.01 and a current ratio of 1.56.

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.