TD Securities Has Lowered Expectations for Champion Iron (TSE:CIA) Stock Price

Key Points

• TD Securities has lowered its price target for Champion Iron from C$5.50 to C$5.00, while maintaining a "buy" rating on the stock.
• Other firms have also adjusted their ratings and price targets; Scotiabank raised its rating to "outperform", while Raymond James reduced its target price from C$8.00 to C$7.50.
• Champion Iron shares recently traded down by 8.9% to C$3.80, with an average price target across analysts being C$6.00.

Champion Iron (TSE:CIA - Free Report) had its price target decreased by TD Securities from C$5.50 to C$5.00 in a research report released on Thursday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other brokerages also recently weighed in on CIA. CLSA raised shares of Champion Iron to a "hold" rating in a report on Friday, May 30th. Raymond James Financial dropped their target price on shares of Champion Iron from C$8.00 to C$7.50 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Scotiabank upgraded shares of Champion Iron from a "sector perform" rating to an "outperform" rating and dropped their target price for the stock from C$6.00 to C$5.50 in a research report on Monday, April 7th. Finally, Desjardins upgraded shares of Champion Iron to a "moderate buy" rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Champion Iron has an average rating of "Buy" and an average target price of C$6.00.

Champion Iron Stock Performance

Shares of CIA traded down C$0.03 on Thursday, reaching C$3.76. The company's stock had a trading volume of 522,100 shares, compared to its average volume of 434,020. The company has a debt-to-equity ratio of 57.89, a current ratio of 2.28 and a quick ratio of 2.01. Champion Iron has a 12-month low of C$3.29 and a 12-month high of C$6.90. The stock has a market capitalization of C$1.94 billion, a P/E ratio of 15.04, a PEG ratio of -1.35 and a beta of 1.39. The stock's 50 day simple moving average is C$3.96 and its two-hundred day simple moving average is C$4.34.

About Champion Iron

Champion Iron Limited engages in the acquisition, exploration, development, and production of iron ore deposits in Canada. Its flagship projects include the Bloom Lake Mine located in south end of the Labrador; the Consolidated Fire Lake North project that includes the Fire Lake North, Don Lake, Bellechasse, and Oil Can deposits situated in Quebec; and the Kamistiatusset project located in the Labrador.