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

Champion Iron Limited (TSE:CIA) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$5.64 and traded as high as C$6.21. Champion Iron shares last traded at C$6.02, with a volume of 314,795 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on CIA shares. Desjardins set a C$8.25 target price on Champion Iron and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Scotiabank raised their price objective on Champion Iron from C$7.00 to C$7.25 and gave the stock a “sector perform” rating in a report on Monday, July 15th.

Champion Iron Stock Down 1.7 %

The company has a market capitalization of C$3.07 billion, a price-to-earnings ratio of 10.39, a PEG ratio of -1.35 and a beta of 1.39. The company has a debt-to-equity ratio of 42.65, a quick ratio of 2.01 and a current ratio of 2.42. The business’s 50 day moving average is C$5.66 and its 200 day moving average is C$5.92.

Champion Iron (TSE:CIA) last announced 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 firm had revenue of C$467.08 million during the quarter, compared to analyst estimates of C$454.50 million. Sell-side analysts anticipate that Champion Iron Limited will post 0.5958254 earnings per share for the current year.

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.