TD Issues Pessimistic Forecast for Champion Iron (TSE:CIA) Stock Price

Champion Iron (TSE:CIA) had its price target cut by stock analysts at TD from C$4.00 to C$3.50 in a research note issued to investors on Friday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD‘s price target indicates a potential upside of 86.17% from the company’s previous close.

Several other brokerages also recently issued reports on CIA. Raymond James Financial reduced their price target on shares of Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Thursday. National Bank Financial dropped their price target on shares of 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. Finally, Scotia cut their price target on Champion Iron from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$4.46.

Champion Iron Stock Performance

CIA traded up C$0.01 during trading on Friday, reaching C$1.88. 890,744 shares of the company were exchanged, compared to its average volume of 483,994. The stock has a market cap of C$1.05 billion, a P/E ratio of 9.40, a PEG ratio of -1.35 and a beta of 0.53. The firm has a 50 day moving average of C$2.99 and a 200 day moving average of C$4.23. The company has a current ratio of 1.60, a quick ratio of 2.01 and a debt-to-equity ratio of 92.23. Champion Iron has a 52 week low of C$1.81 and a 52 week high of C$6.14.

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.