Raymond James Financial Cuts Champion Iron (TSE:CIA) Price Target to C$5.75

Champion Iron (TSE:CIA) had its target price decreased by equities research analysts at Raymond James Financial from C$6.25 to C$5.75 in a research report issued on Wednesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s target price would indicate a potential upside of 96.92% from the stock’s previous close.

CIA has been the topic of a number of other research reports. TD raised their price target on shares of Champion Iron from C$5.00 to C$6.50 and gave the company a “buy” rating in a report on Tuesday, July 14th. Scotiabank decreased their price objective on shares of Champion Iron from C$6.00 to C$5.50 and set a “sector outperform” rating for the company in a report on Monday, June 15th. Scotia cut their target price on 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. Finally, National Bank Financial reduced their price target on 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 investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$5.88.

Champion Iron Stock Down 2.7%

CIA traded down C$0.08 during midday trading on Wednesday, hitting C$2.92. 269,187 shares of the company’s stock traded hands, compared to its average volume of 441,275. The company has a debt-to-equity ratio of 87.81, a current ratio of 1.56 and a quick ratio of 2.01. The company has a market cap of C$1.64 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of -1.35 and a beta of 0.53. The stock’s fifty day simple moving average is C$3.35 and its 200-day simple moving average is C$4.10. Champion Iron has a one year low of C$2.91 and a one year 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.