Champion Iron (TSE:CIA) Shares Down 7.9% on Analyst Downgrade

Key Points

• Champion Iron's share price fell by 7.9% to C$3.84 after TD Securities lowered its price target from C$5.50 to C$5.00, while maintaining a buy rating.
• Multiple analysts have recently adjusted their target prices, with Raymond James reducing its target from C$8.00 to C$7.50, and Scotiabank lowering it from C$6.00 to C$5.50, both maintaining positive ratings.
• The company currently has a market capitalization of C$1.96 billion and holds a consensus rating of "Buy" with an average price target of C$6.00.

Champion Iron Limited (TSE:CIA - Get Free Report)'s share price was down 7.9% on Thursday after TD Securities lowered their price target on the stock from C$5.50 to C$5.00. TD Securities currently has a buy rating on the stock. Champion Iron traded as low as C$3.75 and last traded at C$3.84. Approximately 573,732 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 427,494 shares. The stock had previously closed at C$4.17.

CIA has been the topic of several other reports. Desjardins raised Champion Iron to a "moderate buy" rating in a report on Friday, April 4th. Raymond James Financial lowered their price target on Champion Iron from C$8.00 to C$7.50 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Scotiabank upgraded Champion Iron from a "sector perform" rating to an "outperform" rating and reduced their price objective for the stock from C$6.00 to C$5.50 in a research note on Monday, April 7th. Finally, CLSA upgraded Champion Iron to a "hold" rating in a research note on Friday, May 30th. One equities research 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 company. According to data from MarketBeat.com, Champion Iron presently 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 stock has a market capitalization of C$1.94 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39. The firm has a 50 day moving average price of C$3.96 and a 200 day moving average price of C$4.34.

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.