Champion Iron (TSE:CIA) Stock Price Down 1.4% Following Analyst Downgrade

Champion Iron Limited (TSE:CIA) dropped 1.4% during trading on Thursday after Scotiabank lowered their price target on the stock from C$6.75 to C$6.50. Scotiabank currently has a sector perform rating on the stock. Champion Iron traded as low as C$4.91 and last traded at C$4.92. Approximately 64,094 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 364,991 shares. The stock had previously closed at C$4.99.

CIA has been the topic of a number of other reports. Desjardins raised shares of Champion Iron to a “moderate buy” rating in a research report on Thursday, October 31st. TD Securities cut their price objective on Champion Iron from C$8.00 to C$7.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Citigroup upgraded Champion Iron to a “strong-buy” rating in a report on Sunday, January 19th. Raymond James set a C$8.00 price objective on Champion Iron and gave the company an “outperform” rating in a research report on Thursday, January 2nd. Finally, B. Riley upgraded Champion Iron to a “strong-buy” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$7.44.

Champion Iron Stock Performance

The company has a 50-day moving average of C$5.24 and a 200 day moving average of C$5.45. The company has a quick ratio of 2.01, a current ratio of 2.42 and a debt-to-equity ratio of 42.65. The firm has a market capitalization of C$2.62 billion, a PE ratio of 8.88, a PEG ratio of -1.35 and a beta of 1.39.

Champion Iron (TSE:CIA) last issued its earnings results on Thursday, October 31st. The company reported C$0.04 EPS for the quarter, missing the consensus estimate of C$0.11 by C($0.07). Champion Iron had a net margin of 17.64% and a return on equity of 22.52%. During the same period in the previous year, the company earned $0.12 EPS. Equities research analysts predict that Champion Iron Limited will post 0.5958254 EPS for the current year.

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.