Cormark Equities Analysts Increase Earnings Estimates for Champion Iron Limited (TSE:CIA)

Champion Iron Limited (TSE:CIA – Get Rating) – Analysts at Cormark raised their FY2022 earnings estimates for shares of Champion Iron in a research report issued to clients and investors on Friday, May 6th. Cormark analyst S. Ioannou now forecasts that the company will post earnings of $1.04 per share for the year, up from their previous estimate of $0.97. Cormark also issued estimates for Champion Iron’s Q4 2022 earnings at $0.21 EPS, Q1 2023 earnings at $0.26 EPS, Q4 2023 earnings at $0.27 EPS and FY2023 earnings at $1.24 EPS.

Several other brokerages have also recently commented on CIA. Scotiabank increased their price target on Champion Iron from C$7.50 to C$8.50 in a research report on Wednesday, April 13th. TD Securities raised their price objective on Champion Iron from C$7.00 to C$8.50 and gave the company a “buy” rating in a research report on Friday, March 25th. Finally, Raymond James set a C$8.75 price objective on Champion Iron and gave the company an “outperform” rating in a research report on Thursday, April 28th.

Shares of TSE CIA opened at C$6.65 on Monday. The stock has a 50 day moving average price of C$6.66 and a 200 day moving average price of C$5.55. Champion Iron has a 52 week low of C$3.71 and a 52 week high of C$7.59. The company has a debt-to-equity ratio of 30.82, a quick ratio of 1.70 and a current ratio of 2.00. The stock has a market capitalization of C$3.37 billion and a PE ratio of 6.25.

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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