Champion Iron (TSE:CIA) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Champion Iron Limited (TSE:CIA - Get Free Report)'s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$4.63 and traded as low as C$3.84. Champion Iron shares last traded at C$3.88, with a volume of 173,222 shares changing hands.

Analyst Upgrades and Downgrades

CIA has been the subject of several research reports. Raymond James Financial decreased their target price 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. CLSA raised Champion Iron to a "hold" rating in a research note on Friday, May 30th. Desjardins upgraded Champion Iron to a "moderate buy" rating in a report on Friday, April 4th. Finally, Scotiabank raised Champion Iron from a "sector perform" rating to an "outperform" rating and lowered their price objective for the company from C$6.00 to C$5.50 in a research report on Monday, April 7th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$7.06.

Champion Iron Stock Down 5.7%

The company has a quick ratio of 2.01, a current ratio of 2.28 and a debt-to-equity ratio of 57.89. The company's fifty day moving average price is C$3.94 and its 200-day moving average price is C$4.59. The stock has a market capitalization of C$1.81 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39.

Champion Iron Company Profile

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.