Champion Iron (TSE:CIA) Price Target Cut to C$5.00 by Analysts at Raymond James Financial

Key Points

• Raymond James lowered Champion Iron’s price target to C$5.00 from C$5.50 while maintaining an “outperform” rating, implying substantial upside from the stock’s current price.
• Analyst sentiment remains positive overall: Champion Iron has a consensus “Buy” rating and a consensus price target of C$5.75, despite mixed recent target adjustments from other firms.
• Shares fell C$0.36 to C$1.87, near the company’s one-year low of C$1.81 and well below its 50-day and 200-day moving averages.

Champion Iron (TSE:CIA - Get Free Report) had its price target lowered by Raymond James Financial from C$5.50 to C$5.00 in a note issued to investors on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price indicates a potential upside of 167.38% from the company's current price.

CIA has been the subject of several other reports. 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 research note on Tuesday, July 14th. TD lifted their price objective on shares of 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, Scotia lowered their target price on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$5.75.

Champion Iron Price Performance

CIA stock traded down C$0.36 during trading on Thursday, reaching C$1.87. The company's stock had a trading volume of 3,903,365 shares, compared to its average volume of 479,384. The company's fifty day moving average is C$3.02 and its 200-day moving average is C$4.25. Champion Iron has a 1 year low of C$1.81 and a 1 year high of C$6.14. The company has a market capitalization of C$1.05 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of -1.35 and a beta of 0.53. The company has a quick ratio of 2.01, a current ratio of 1.56 and a debt-to-equity ratio of 87.81.

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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