Champion Iron (TSE:CIA) Stock Gets Price Target Reduction from National Bank Financial

Key Points

• National Bank Financial cut Champion Iron’s price target from C$4.00 to C$3.00 but maintained an “outperform” rating, implying roughly 59.6% upside from the prior close.
• Other analysts also reduced their targets: Raymond James to C$5.00, Scotia to C$3.50, and TD to C$3.50. Despite the cuts, Champion Iron holds a consensus “Moderate Buy” rating with an average target of C$4.46.
• Champion Iron shares rose 0.5% to C$1.88, near their one-year low of C$1.81, while the company operates the Bloom Lake iron ore complex in Québec.

Champion Iron (TSE:CIA - Get Free Report) had its target price dropped by National Bank Financial from C$4.00 to C$3.00 in a research report issued to clients and investors on Friday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective points to a potential upside of 59.57% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Raymond James Financial cut their price target on shares of Champion Iron from C$5.50 to C$5.00 and set an "outperform" rating on the stock in a report on Thursday. Scotia decreased their target price on 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. Finally, TD cut their price target on shares of Champion Iron from C$4.00 to C$3.50 and set a "buy" rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$4.46.

Champion Iron Stock Up 0.5%

CIA traded up C$0.01 during mid-day trading on Friday, reaching C$1.88. 890,744 shares of the stock were exchanged, 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 has a debt-to-equity ratio of 92.23, a quick ratio of 2.01 and a current ratio of 1.60. The stock has a market capitalization of C$1.05 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of -1.35 and a beta of 0.53. The company has a 50 day moving average price of C$2.99 and a two-hundred day moving average price of C$4.23.

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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