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

Champion Iron (TSE:CIA) had its price objective dropped by Scotiabank from C$6.75 to C$6.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 33.74% from the stock’s current price.

Several other research firms also recently weighed in on CIA. Desjardins raised Champion Iron to a “moderate buy” rating in a report on Thursday, October 31st. B. Riley raised Champion Iron to a “strong-buy” rating in a research note on Tuesday, January 21st. Raymond James set a C$8.00 price objective on Champion Iron and gave the company an “outperform” rating in a research note on Thursday, January 2nd. Citigroup raised Champion Iron to a “strong-buy” rating in a research note on Sunday, January 19th. Finally, TD Securities reduced their price objective on Champion Iron from C$8.00 to C$7.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$7.44.

Champion Iron Stock Down 2.6 %

CIA traded down C$0.13 on Thursday, hitting C$4.86. 404,074 shares of the company were exchanged, compared to its average volume of 379,807. Champion Iron has a twelve month low of C$4.74 and a twelve month high of C$7.58. The company has a market cap of C$2.52 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39. 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 has a 50-day moving average price of C$5.24 and a two-hundred day moving average price of C$5.46.

Champion Iron (TSE:CIA) last released its quarterly earnings data 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 last year, the firm earned $0.12 EPS. On average, equities analysts predict that Champion Iron will post 0.5958254 earnings per share 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.