Champion Iron (TSE:CIA) Given New C$5.75 Price Target at Raymond James Financial

Key Points

• Raymond James lowered Champion Iron’s price target to C$5.75 from C$6.25 but maintained an “outperform” rating, implying roughly 97% upside from the prior close.
• Analyst sentiment remains broadly positive: Champion Iron has a consensus “Buy” rating and an average price target of C$5.88, supported by one Strong Buy, six Buy, and one Hold rating.
• Shares fell C$0.08 to C$2.92, near their 52-week low of C$2.91. The company operates the Bloom Lake iron ore complex in Québec, producing high-purity concentrates with an annual capacity of 15 million wet metric tonnes.

Champion Iron (TSE:CIA - Get Free Report) had its price objective dropped by equities research analysts at Raymond James Financial from C$6.25 to C$5.75 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price objective would indicate a potential upside of 96.92% from the company's previous close.

Several other equities analysts have also recently weighed in on CIA. TD lifted their price objective on shares of Champion Iron from C$5.00 to C$6.50 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Scotia decreased 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 lowered their price target on Champion Iron from C$6.00 to C$5.50 and set a "sector outperform" rating on the stock in a report on Monday, June 15th. Finally, National Bank Financial dropped their price target on Champion Iron from C$5.75 to C$5.50 and set an "outperform" rating on the stock in a research report on Tuesday, July 14th. One research 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. According to MarketBeat.com, Champion Iron has a consensus rating of "Buy" and an average price target of C$5.88.

Champion Iron Price Performance

Shares of TSE:CIA traded down C$0.08 on Wednesday, reaching C$2.92. 269,187 shares of the company traded hands, compared to its average volume of 441,275. Champion Iron has a fifty-two week low of C$2.91 and a fifty-two week high of C$6.14. The company's 50 day moving average is C$3.35 and its 200-day moving average is C$4.10. The stock has a market capitalization of C$1.64 billion, a PE ratio of 14.60, 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 current ratio of 1.56 and a quick ratio of 2.01.

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.

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