Champion Iron (TSE:CIA) Shares Pass Below 50-Day Moving Average - Here's What Happened

Champion Iron Limited (TSE:CIA - Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$3.93 and traded as low as C$3.78. Champion Iron shares last traded at C$3.86, with a volume of 767,032 shares.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. CLSA raised shares of Champion Iron to a "hold" rating in a research note on Friday, May 30th. Desjardins upgraded shares of Champion Iron to a "moderate buy" rating in a research note on Friday, April 4th. Scotiabank upgraded shares of Champion Iron from a "sector perform" rating to an "outperform" rating and decreased their price objective for the company from C$6.00 to C$5.50 in a research note on Monday, April 7th. Finally, 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. One equities research 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 company. According to MarketBeat, Champion Iron presently has an average rating of "Buy" and an average target price of C$7.06.

Champion Iron Trading Down 0.5%

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 company has a market cap of C$2.06 billion, a PE ratio of 15.96, a PEG ratio of -1.35 and a beta of 1.39. The firm's 50 day moving average is C$3.93 and its 200 day moving average is C$4.49.

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.