Champion Iron (TSE:CIA) Price Target Cut to C$3.50 by Analysts at Scotia

Key Points

• Scotia cut Champion Iron’s price target from C$4.00 to C$3.50 while maintaining a “sector perform” rating, implying roughly 86% upside from the C$1.88 share price.
• Analyst views remain broadly positive but mixed: Champion Iron has a “Moderate Buy” consensus rating and an average price target of C$4.46. Targets range from C$3.50 at Scotia to C$6.50 at TD.
• Shares rose 0.5% to C$1.88, near the company’s 52-week low of C$1.81 and well below its 50-day and 200-day moving averages of C$2.99 and C$4.23, respectively.

Champion Iron (TSE:CIA - Get Free Report) had its price target cut by investment analysts at Scotia from C$4.00 to C$3.50 in a research note issued to investors on Friday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. Scotia's price target points to a potential upside of 86.17% from the company's current price.

A number of other brokerages also recently issued reports on CIA. National Bank Financial decreased 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. Raymond James Financial dropped 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. Finally, TD raised their target price on 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Champion Iron currently has an average rating of "Moderate Buy" and an average price target of C$4.46.

Champion Iron Stock Up 0.5%

Shares of CIA traded up C$0.01 during midday trading on Friday, reaching C$1.88. The stock had a trading volume of 890,744 shares, compared to its average volume of 483,994. Champion Iron has a 1-year low of C$1.81 and a 1-year high of C$6.14. The company's fifty day simple moving average is C$2.99 and its two-hundred day simple moving average is C$4.23. The company has a market cap of C$1.05 billion, a price-to-earnings ratio of 9.40, a PEG ratio of -1.35 and a beta of 0.53. The company has a debt-to-equity ratio of 92.23, a current ratio of 1.60 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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