Scotiabank Cuts Champion Iron (TSE:CIA) Price Target to C$6.50

Champion Iron (TSE:CIA) had its target price cut by research analysts at Scotiabank from C$6.75 to C$6.50 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 30.52% from the stock’s previous close.

Several other research firms have also recently issued reports on CIA. TD Securities reduced their target price on 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 report on Thursday, October 31st. B. Riley raised shares of Champion Iron to a “strong-buy” rating in a research report on Tuesday, January 21st. Raymond James set a C$8.00 target price on shares of Champion Iron and gave the company an “outperform” rating in a research note on Thursday, January 2nd. Finally, Citigroup raised shares of Champion Iron to a “strong-buy” rating in a research note on Sunday, January 19th. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Champion Iron has an average rating of “Buy” and a consensus price target of C$7.44.

Champion Iron Price Performance

Shares of Champion Iron stock opened at C$4.98 on Thursday. The firm has a market cap of C$2.58 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39. The company’s fifty day simple moving average is C$5.23 and its two-hundred day simple moving average is C$5.45. The company has a quick ratio of 2.01, a current ratio of 2.42 and a debt-to-equity ratio of 42.65. Champion Iron has a 12-month low of C$4.74 and a 12-month high of C$7.58.

Champion Iron (TSE:CIA) last posted its earnings results on Thursday, October 31st. The company reported C$0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.11 by C($0.07). Champion Iron had a return on equity of 22.52% and a net margin of 17.64%. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, equities analysts expect that Champion Iron will post 0.5958254 EPS for the current year.

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.