Champion Iron (TSE:CIA) Share Price Passes Above 50 Day Moving Average – What’s Next?

Champion Iron Limited (TSE:CIA) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$5.22 and traded as high as C$5.57. Champion Iron shares last traded at C$5.55, with a volume of 54,681 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on CIA. TD Securities reduced their price target on shares of Champion Iron from C$8.00 to C$7.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Desjardins raised shares of Champion Iron to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Raymond James set a C$8.00 price objective on Champion Iron and gave the stock an “outperform” rating in a research note on Thursday, January 2nd.

Champion Iron Price Performance

The company has a current ratio of 2.42, a quick ratio of 2.01 and a debt-to-equity ratio of 42.65. The firm’s 50-day moving average price is C$5.22 and its two-hundred day moving average price is C$5.49. The stock has a market cap of C$2.88 billion, a PE ratio of 9.74, a PEG ratio of -1.35 and a beta of 1.39.

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.