Champion Iron (TSE:CIA) Sets New 52-Week Low – Should You Sell?

Shares of Champion Iron Limited (TSE:CIA) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$3.03 and last traded at C$3.04, with a volume of 355278 shares. The stock had previously closed at C$3.08.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Scotiabank reduced their target price on Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a research note on Monday, June 15th. BMO Capital Markets lowered shares of Champion Iron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Scotia cut their price target on shares of Champion Iron from C$5.50 to C$5.00 and set a “sector outperform” rating on the stock in a report on Friday, July 31st. TD increased their price objective on shares of Champion Iron from C$5.00 to C$6.50 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, National Bank Financial dropped their target price on shares of Champion Iron from C$5.75 to C$5.50 and set an “outperform” rating for the company in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$6.08.

Champion Iron Trading Down 1.6%

The company has a market cap of C$1.70 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of -1.35 and a beta of 0.30. The firm has a 50-day moving average price of C$3.59 and a 200 day moving average price of C$4.28. The company has a current ratio of 1.56, a quick ratio of 2.01 and a debt-to-equity ratio of 87.81.

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.