National Bank Financial Issues Pessimistic Forecast for Champion Iron (TSE:CIA) Stock Price

Champion Iron (TSE:CIA) had its target price reduced by research analysts at National Bank Financial from C$4.00 to C$3.00 in a research note issued on Friday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial‘s price objective would suggest a potential upside of 59.57% from the stock’s previous close.

A number of other brokerages have also recently commented on CIA. Scotia dropped their price target on shares of Champion Iron from C$4.00 to C$3.50 and set a “sector perform” rating on the stock in a research note on Friday. Raymond James Financial reduced their price objective on shares of Champion Iron from C$5.50 to C$5.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, TD lowered their target price on shares of Champion Iron from C$4.00 to C$3.50 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$4.46.

Champion Iron Stock Performance

TSE:CIA traded up C$0.01 on Friday, reaching C$1.88. 890,744 shares of the company’s stock were exchanged, compared to its average volume of 483,994. The company has a debt-to-equity ratio of 92.23, a current ratio of 1.60 and a quick ratio of 2.01. The firm has a market cap of C$1.05 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of -1.35 and a beta of 0.53. Champion Iron has a 52 week low of C$1.81 and a 52 week high of C$6.14. The stock has a fifty day simple moving average of C$2.99 and a 200-day simple moving average of C$4.23.

Champion Iron Company Profile

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.