Champion Iron (TSE:CIA) Stock Gets Price Target Cut from TD

Key Points

• TD lowered Champion Iron’s price target from C$4.00 to C$3.50 but maintained a “buy” rating, implying roughly 86% upside from the previous close.
• Several other analysts also reduced their targets, yet Champion Iron retains a “Moderate Buy” consensus rating with an average price target of C$4.46.
• The stock rose 0.5% to C$1.88 in Friday trading, near its 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 target price reduced by research analysts at TD from C$4.00 to C$3.50 in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has a "buy" rating on the stock. TD's price objective suggests a potential upside of 86.17% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Raymond James Financial dropped their price target on shares of Champion Iron from C$5.50 to C$5.00 and set an "outperform" rating for the company in a research note on Thursday. National Bank Financial decreased their price objective on shares of 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. Finally, Scotia dropped their target price on shares of Champion Iron from C$4.00 to C$3.50 and set a "sector perform" rating for the company in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$4.46.

Champion Iron Stock Up 0.5%

TSE CIA traded up C$0.01 during mid-day trading on Friday, reaching C$1.88. 890,744 shares of the company's stock traded hands, compared to its average volume of 483,994. The company has a current ratio of 1.60, a quick ratio of 2.01 and a debt-to-equity ratio of 92.23. Champion Iron has a 1-year low of C$1.81 and a 1-year high of C$6.14. The company has a fifty day simple moving average of C$2.99 and a 200-day simple moving average of C$4.23. The company has a market cap of C$1.05 billion, a price-to-earnings ratio of 9.40, 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.

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