Champion Iron (TSE:CIA) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Champion Iron Limited (TSE:CIA) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$5.22 and traded as high as C$5.57. Champion Iron shares last traded at C$5.55, with a volume of 54,681 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Desjardins upgraded shares of Champion Iron to a “moderate buy” rating in a research note on Thursday, October 31st. Raymond James set a C$8.00 target price on Champion Iron and gave the stock an “outperform” rating in a research note on Thursday, January 2nd. TD Securities decreased their price target on Champion Iron from C$8.00 to C$7.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Citigroup upgraded Champion Iron to a “strong-buy” rating in a research report on Sunday. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$7.63.

Champion Iron Stock Performance

The stock’s fifty day simple moving average is C$5.23 and its 200-day simple moving average is C$5.49. The company has a quick ratio of 2.01, a current ratio of 2.42 and a debt-to-equity ratio of 42.65. The company has a market capitalization of C$2.70 billion, a PE ratio of 9.14, a PEG ratio of -1.35 and a beta of 1.39.

Champion Iron (TSE:CIA) last released its quarterly earnings data on Thursday, October 31st. The company reported C$0.04 earnings per share for the quarter, missing the consensus estimate of C$0.11 by C($0.07). Champion Iron had a net margin of 17.64% and a return on equity of 22.52%. During the same period in the previous year, the company earned $0.12 earnings per share. On average, 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.