Champion Iron (TSE:CIA) Hits New 1-Year Low – Time to Sell?

Champion Iron Limited (TSE:CIA) reached a new 52-week low during trading on Thursday . The company traded as low as C$3.30 and last traded at C$3.31, with a volume of 69778 shares changing hands. The stock had previously closed at C$3.35.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CIA. TD increased their target price on Champion Iron from C$5.00 to C$6.50 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Scotiabank reduced their price target on Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a research report on Monday, June 15th. BMO Capital Markets cut Champion Iron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Scotia dropped their price objective on Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 31st. Finally, National Bank Financial cut their target price 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$6.08.

Champion Iron Price Performance

The stock has a fifty day simple moving average of C$3.65 and a 200-day simple moving average of C$4.33. The company has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of -1.35 and a beta of 0.30. The company has a debt-to-equity ratio of 87.81, a current ratio of 1.56 and a quick ratio of 2.01.

Champion Iron Company Profile

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.