Scotiabank Boosts Champion Iron (TSE:CIA) Price Target to C$8.50

Champion Iron (TSE:CIAGet Rating) had its price target lifted by analysts at Scotiabank from C$7.50 to C$8.50 in a research note issued on Wednesday, BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 17.89% from the company’s previous close.

Other analysts also recently issued reports about the company. TD Securities increased their price target on Champion Iron from C$7.00 to C$8.50 and gave the company a “buy” rating in a report on Friday, March 25th. Raymond James boosted their price target on Champion Iron from C$7.50 to C$8.75 and gave the stock an “outperform” rating in a research report on Tuesday, April 5th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$7.88.

CIA stock traded up C$0.15 during trading on Wednesday, reaching C$7.21. 410,952 shares of the stock traded hands, compared to its average volume of 667,814. The business’s 50 day moving average price is C$6.41 and its 200-day moving average price is C$5.25. The firm has a market capitalization of C$3.65 billion and a PE ratio of 6.83. The company has a debt-to-equity ratio of 30.82, a current ratio of 2.00 and a quick ratio of 1.70. Champion Iron has a 52-week low of C$3.71 and a 52-week high of C$7.59.

Champion Iron (TSE:CIAGet Rating) last posted its quarterly earnings results on Wednesday, January 26th. The company reported C$0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.11 by C$0.03. The business had revenue of C$253.02 million during the quarter, compared to analysts’ expectations of C$230.50 million. On average, equities research analysts predict that Champion Iron will post 0.8837341 earnings per share for the current year.

Champion Iron Company Profile (Get Rating)

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; and the Consolidated Fire Lake North project that includes the Fire Lake North, Don Lake, Bellechasse, and Oil Can deposits situated in northeastern Quebec.

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