Champion Iron (TSE:CIA) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Champion Iron shares fell below their 200-day moving average, trading as low as C$3.86 versus the average of C$4.78, with 452,704 shares changing hands.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of C$6.08, although several firms recently reduced targets and BMO downgraded the stock to “Hold.”
• The company reported quarterly revenue of C$414.50 million and EPS of C$0.05, alongside a 9.55% net margin and 11.36% return on equity.

Champion Iron Limited (TSE:CIA - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$4.78 and traded as low as C$3.86. Champion Iron shares last traded at C$3.86, with a volume of 452,704 shares.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CIA. TD upped their price objective on shares of Champion Iron from C$5.00 to C$6.50 and gave the company a "buy" rating in a report on Tuesday, July 14th. National Bank Financial decreased their target price on Champion Iron from C$5.75 to C$5.50 and set an "outperform" rating for the company in a research report on Tuesday, July 14th. BMO Capital Markets downgraded Champion Iron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Scotiabank cut their price target on Champion Iron from C$6.00 to C$5.50 and set a "sector outperform" rating on the stock in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$6.08.

Champion Iron Stock Down 0.8%

The firm has a market cap of C$2.16 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of -1.35 and a beta of 0.31. The stock's 50 day simple moving average is C$4.09 and its 200 day simple moving average is C$4.78. The company has a debt-to-equity ratio of 70.43, a quick ratio of 2.01 and a current ratio of 2.60.

Champion Iron (TSE:CIA - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$0.05 earnings per share (EPS) for the quarter. The firm had revenue of C$414.50 million during the quarter. Champion Iron had a net margin of 9.55% and a return on equity of 11.36%. Research analysts anticipate that Champion Iron Limited will post 0.5958254 EPS for the current year.

Champion Iron Company Profile

Champion Iron Ltd is engaged in the exploration and development of iron ore properties in Quebec, Canada. The company's operating segment include Mine Site, Exploration and Evaluation, and Corporate. It generates maximum revenue from Mine Site segment. The company projects include Fire Lake North, Powderhorn/Gullbridge, Moire, Quinto Claims, Harvey Tuttle, O'keefe-Purdy, and others.

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