Champion Iron (TSE:CIA) Stock Price Target Cut by Royal Bank Of Canada

Champion Iron (TSE:CIA) had its target price dropped by research analysts at Royal Bank Of Canada from C$8.00 to C$4.00 in a research note issued to investors on Tuesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 122.22% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Canaccord Genuity Group decreased their price target on shares of Champion Iron from C$5.50 to C$3.75 and set a “buy” rating on the stock in a research note on Friday. Scotiabank cut shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a research report on Friday. National Bank Financial reduced their price objective on Champion Iron from C$4.00 to C$3.00 and set an “outperform” rating on the stock in a report on Friday. Raymond James Financial reduced their price objective on Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Finally, Scotia decreased their price objective on Champion Iron from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$4.41.

Champion Iron Price Performance

CIA traded down C$0.07 during midday trading on Tuesday, hitting C$1.80. The company had a trading volume of 1,464,426 shares, compared to its average volume of 497,099. The company has a debt-to-equity ratio of 92.23, a quick ratio of 2.01 and a current ratio of 1.60. The company has a market capitalization of C$1.01 billion, a PE ratio of 180.00, a P/E/G ratio of -1.35 and a beta of 0.53. Champion Iron has a twelve month low of C$1.80 and a twelve month high of C$6.14. The firm’s 50-day simple moving average is C$2.92 and its 200-day simple moving average is C$4.19.

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.