Champion Iron (TSE:CIA) Sets New 52-Week Low – Here’s Why

Shares of Champion Iron Limited (TSE:CIA) reached a new 52-week low during trading on Monday. The stock traded as low as C$2.29 and last traded at C$2.29, with a volume of 97,607 shares trading hands. The stock had previously closed at C$2.33.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CIA. National Bank Financial reduced their target price on 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 boosted 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. Raymond James Financial decreased their target price on Champion Iron from C$6.25 to C$5.75 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Finally, Scotia cut their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Champion Iron currently has an average rating of “Buy” and an average target price of C$5.88.

Champion Iron Stock Performance

The company has a current ratio of 1.56, a quick ratio of 2.01 and a debt-to-equity ratio of 87.81. The company has a market cap of C$1.29 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of -1.35 and a beta of 0.53. The stock has a 50 day moving average price of C$3.21 and a two-hundred day moving average price of C$3.98.

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.