Champion Iron (TSE:CIA) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Champion Iron Limited (TSE:CIA) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$4.78 and traded as low as C$3.86. Champion Iron shares last traded at C$3.86, with a volume of 452,704 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CIA shares. BMO Capital Markets lowered shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Scotia lowered 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 note on Friday. Scotiabank dropped their target price on shares of Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a report on Monday, June 15th. TD raised their target price on Champion Iron from C$5.00 to C$6.50 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, National Bank Financial reduced their price target on Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating on the stock in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Champion Iron currently has a consensus rating of “Buy” and an average price target of C$6.08.

Champion Iron Stock Performance

The company has a quick ratio of 2.01, a current ratio of 2.60 and a debt-to-equity ratio of 70.43. The company has a market cap of C$1.94 billion, a P/E ratio of 10.84, a P/E/G ratio of -1.35 and a beta of 0.31. The business has a fifty day moving average of C$4.07 and a 200 day moving average of C$4.77.

Champion Iron (TSE:CIA) last released its quarterly earnings results on Thursday, May 28th. The company reported C$0.05 earnings per share for the quarter. The business had revenue of C$414.50 million for the quarter. Champion Iron had a net margin of 9.55% and a return on equity of 11.36%. On average, equities analysts predict that Champion Iron Limited will post 0.5958254 EPS for the current year.

Champion Iron Company Profile

Champion Iron Ltd is engaged in the exploration and development of iron ore properties in Quebec, Canada. The company’s operating segment include Mine Site, Exploration and Evaluation, and Corporate. It generates maximum revenue from Mine Site segment. The company projects include Fire Lake North, Powderhorn/Gullbridge, Moire, Quinto Claims, Harvey Tuttle, O’keefe-Purdy, and others.