Champion Iron (TSE:CIA) Stock Price Passes Below 200 Day Moving Average - What's Next?

Key Points

• Champion Iron shares fell below their 200-day moving average, dropping as low as C$3.37 compared with the C$4.58 average, on trading volume of 649,687 shares.
• Analyst sentiment remains generally positive, with a consensus “Buy” rating and an average price target of C$6.08, although several firms recently lowered targets or downgraded the stock.
• The company reported quarterly EPS of C$0.05 on C$414.5 million in revenue, while maintaining operations at its Bloom Lake iron ore complex in Québec.

Shares of Champion Iron Limited (TSE:CIA - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$4.58 and traded as low as C$3.37. Champion Iron shares last traded at C$3.37, with a volume of 649,687 shares traded.

Wall Street Analyst Weigh In

CIA has been the topic of a number of research analyst reports. Scotiabank lowered 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. BMO Capital Markets downgraded shares of Champion Iron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. National Bank Financial reduced their price objective on shares of Champion Iron from C$5.75 to C$5.50 and set an "outperform" rating for the company in a report on Tuesday, July 14th. TD increased their target price on shares of Champion Iron from C$5.00 to C$6.50 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Scotia lowered their target price on shares of Champion Iron from C$5.50 to C$5.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$6.08.

Champion Iron Stock Performance

The stock has a market cap of C$1.89 billion, a P/E ratio of 16.85, a PEG ratio of -1.35 and a beta of 0.29. The company has a fifty day moving average of C$3.82 and a 200 day moving average of C$4.58. The company has a debt-to-equity ratio of 87.81, a current ratio of 1.56 and a quick ratio of 2.01.

Champion Iron (TSE:CIA - Get Free Report) last issued its quarterly earnings results 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 return on equity of 6.81% and a net margin of 5.99%. On average, equities analysts predict that Champion Iron Limited will post 0.5958254 earnings per share for the current fiscal year.

Champion Iron Company Profile

Champion is a high-purity iron ore producer with operations in Canada and Norway. Through Quebec Iron Ore Inc, Champion owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15M wmt per year that produce low contaminant high-purity iron ore concentrates with a proven ability to produce direct reduction grade quality iron ore concentrate.

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