Champion Iron Limited (TSE:CIA) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Champion Iron has a consensus “Buy” rating from eight analysts: six buys, one strong buy, and one hold. The average 12-month price target is C$6.08.
• Analyst views were mixed, with TD raising its target to C$6.50 while National Bank, Scotia, and Scotiabank lowered their targets; BMO downgraded the stock to “hold.”
• The shares rose 2.2% to C$3.24, well below the average analyst target and the 52-week high of C$6.14. Champion operates the Bloom Lake iron ore complex in Québec, with annual capacity of 15 million wet metric tonnes.

Shares of Champion Iron Limited (TSE:CIA - Get Free Report) have received an average recommendation of "Buy" from the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$6.08.

Several research analysts recently issued reports on the company. National Bank Financial dropped their price objective on Champion Iron from C$5.75 to C$5.50 and set an "outperform" rating on the stock in a research note on Tuesday, July 14th. Scotia decreased their target price on Champion Iron from C$5.50 to C$5.00 and set a "sector outperform" rating for the company in a research report on Friday, July 31st. TD upped their target price on Champion Iron from C$5.00 to C$6.50 and gave the stock a "buy" rating in a report on Tuesday, July 14th. BMO Capital Markets downgraded Champion Iron from a "strong-buy" rating to a "hold" rating in a research report 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 research note on Monday, June 15th.

Champion Iron Trading Up 2.2%

CIA traded up C$0.07 on Friday, reaching C$3.24. 303,019 shares of the company traded hands, compared to its average volume of 446,326. The company has a market cap of C$1.81 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of -1.35 and a beta of 0.30. The company has a quick ratio of 2.01, a current ratio of 1.56 and a debt-to-equity ratio of 87.81. Champion Iron has a one year low of C$3.02 and a one year high of C$6.14. The firm has a fifty day simple moving average of C$3.56 and a two-hundred day simple moving average of C$4.25.

About Champion Iron

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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