Champion Iron (TSE:CIA) Reaches New 52-Week Low – Here’s What Happened

Shares of Champion Iron Limited (TSE:CIA) hit 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. The stock had previously closed at C$2.76.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CIA. TD boosted 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. National Bank Financial dropped their price objective on 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. Scotia cut their target price on Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. Scotiabank decreased their target price on Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating on the stock in a research note on Monday, June 15th. Finally, Raymond James Financial decreased their target price on Champion Iron from C$6.25 to C$5.75 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$5.88.

Champion Iron Price Performance

The firm’s fifty day moving average price is C$3.29 and its 200 day moving average price is C$4.05. 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 stock has a market cap of C$1.49 billion, a PE ratio of 13.30, a P/E/G ratio of -1.35 and a beta of 0.53.

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.