Champion Iron (TSE:CIA) Given New C$5.00 Price Target at TD Securities

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 note issued to investors on Thursday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other research analysts have also weighed in on CIA. Desjardins upgraded Champion Iron to a "moderate buy" rating in a report on Friday, April 4th. CLSA raised Champion Iron to a "hold" rating in a research report on Friday, May 30th. Raymond James Financial decreased their price target on 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. Finally, Scotiabank raised Champion Iron from a "sector perform" rating to an "outperform" rating and decreased their price target for the company from C$6.00 to C$5.50 in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Champion Iron presently has a consensus rating of "Buy" and a consensus target price of C$6.00.

Champion Iron Stock Down 0.8%

Shares of CIA stock traded down C$0.03 during trading hours on Thursday, reaching C$3.76. The company had a trading volume of 522,100 shares, compared to its average volume of 434,020. Champion Iron has a 12 month low of C$3.29 and a 12 month high of C$6.90. The company has a debt-to-equity ratio of 57.89, a current ratio of 2.28 and a quick ratio of 2.01. The business has a fifty day simple moving average of C$3.96 and a 200-day simple moving average of C$4.35. The company has a market cap of C$1.94 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39.

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.