Champion Iron (TSE:CIA) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Champion Iron Limited (TSE:CIA - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$5.88 and traded as low as C$5.30. Champion Iron shares last traded at C$5.37, with a volume of 344,900 shares traded.

Analyst Upgrades and Downgrades

CIA has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on Champion Iron from C$7.00 to C$7.25 and gave the stock a "sector perform" rating in a research note on Monday, July 15th. Desjardins set a C$8.25 price target on Champion Iron and gave the stock a "buy" rating in a research report on Wednesday, July 17th. 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 report on Friday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Champion Iron has a consensus rating of "Moderate Buy" and an average target price of C$8.10.

Champion Iron Stock Up 4.5 %

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 business's fifty day moving average price is C$5.68 and its 200 day moving average price is C$5.88. The company has a market capitalization of C$2.91 billion, a P/E ratio of 9.84, a P/E/G ratio of -1.35 and a beta of 1.39.

Champion Iron (TSE:CIA - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.16 earnings per share for the quarter, missing analysts' consensus estimates of C$0.17 by C($0.01). Champion Iron had a net margin of 17.64% and a return on equity of 22.52%. The company had revenue of C$467.08 million for the quarter, compared to analyst estimates of C$454.50 million. As a group, equities research analysts predict that Champion Iron Limited will post 0.5958254 earnings per share for the current fiscal year.

Champion Iron Company Profile

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.