Champion Iron (TSE:CIA) Raised to Outperform at Scotiabank

Champion Iron (TSE:CIA) was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a C$5.50 target price on the stock, down from their prior target price of C$6.00. Scotiabank’s price target indicates a potential upside of 48.25% from the stock’s previous close.

CIA has been the subject of several other reports. Desjardins raised Champion Iron to a “moderate buy” rating in a research note on Friday, April 4th. B. Riley raised shares of Champion Iron to a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup upgraded shares of Champion Iron to a “strong-buy” rating in a research report on Sunday, January 19th. Finally, Raymond James lowered their price target on shares of Champion Iron from C$8.00 to C$7.50 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Champion Iron currently has an average rating of “Buy” and an average price target of C$7.06.

Champion Iron Price Performance

Shares of TSE:CIA opened at C$3.71 on Monday. The company’s fifty day moving average is C$4.80 and its two-hundred day moving average is C$5.24. The company has a market cap of C$1.92 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39. Champion Iron has a 12-month low of C$3.61 and a 12-month high of C$7.11. The company has a quick ratio of 2.01, a current ratio of 2.28 and a debt-to-equity ratio of 57.89.

About Champion Iron

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.