Champion Iron (TSE:CIA) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Champion Iron Limited (TSE:CIA)’s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$5.21 and traded as low as C$5.15. Champion Iron shares last traded at C$5.21, with a volume of 340,758 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have commented on CIA shares. Raymond James set a C$8.00 price target on shares of Champion Iron and gave the stock an “outperform” rating in a research report on Thursday, January 2nd. Scotiabank dropped their target price on Champion Iron from C$6.75 to C$6.50 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. Desjardins upgraded Champion Iron to a “moderate buy” rating in a research note on Thursday, October 31st. Citigroup raised Champion Iron to a “strong-buy” rating in a research report on Sunday, January 19th. Finally, B. Riley raised Champion Iron to a “strong-buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$7.44.

Champion Iron Price Performance

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 market capitalization of C$2.70 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of -1.35 and a beta of 1.39. The company’s 50 day moving average is C$5.21 and its 200-day moving average is C$5.42.

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.