Champion Iron (TSE:CIA) Shares Pass Below Fifty Day Moving Average - Here's Why

Key Points

• Champion Iron Limited shares fell below their 50-day moving average of C$3.95, trading as low as C$3.79 during the latest session.
• TD Securities reduced their target price for Champion Iron from C$5.50 to C$5.00, while the consensus target price remains at C$6.00 with an average rating of "Buy".
• The company's market capitalization stands at C$1.98 billion with a price-to-earnings ratio of 15.36 and a debt-to-equity ratio of 57.89.

Champion Iron Limited (TSE:CIA - Get Free Report)'s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$3.95 and traded as low as C$3.79. Champion Iron shares last traded at C$3.84, with a volume of 509,929 shares.

Analysts Set New Price Targets

Several research firms have recently commented on CIA. CLSA raised shares of Champion Iron to a "hold" rating in a report on Friday, May 30th. TD Securities reduced their target price on shares of Champion Iron from C$5.50 to C$5.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$6.00.

Champion Iron Price Performance

The company has a current ratio of 2.28, a quick ratio of 2.01 and a debt-to-equity ratio of 57.89. The business's fifty day moving average is C$3.95 and its 200 day moving average is C$4.25. The firm has a market capitalization of C$2.01 billion, a P/E ratio of 15.52, a P/E/G 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.