Scotiabank Upgrades Champion Iron (TSE:CIA) to “Outperform”

Champion Iron (TSE:CIA) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a report released on Monday,BayStreet.CA reports. The brokerage currently has a C$5.50 price objective on the stock, down from their previous price objective of C$6.00. Scotiabank’s price target indicates a potential upside of 39.95% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Raymond James reduced their target price 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. B. Riley upgraded shares of Champion Iron to a “strong-buy” rating in a research note on Tuesday, January 21st. Desjardins upgraded Champion Iron to a “moderate buy” rating in a research report on Friday. Finally, Citigroup upgraded Champion Iron to a “strong-buy” rating in a research note on Sunday, January 19th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$7.06.

Champion Iron Trading Up 6.2 %

Shares of Champion Iron stock traded up C$0.23 on Monday, reaching C$3.93. The company had a trading volume of 724,544 shares, compared to its average volume of 408,735. The firm’s 50 day moving average price is C$4.88 and its two-hundred day moving average price is C$5.27. The company has a debt-to-equity ratio of 57.89, a quick ratio of 2.01 and a current ratio of 2.28. Champion Iron has a 52-week low of C$3.61 and a 52-week high of C$7.11. The firm has a market cap of C$2.03 billion, a PE ratio of 15.72, a PEG ratio of -1.35 and a beta of 1.39.

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.