Desjardins Upgrades Champion Iron (TSE:CIA) to Moderate Buy

Champion Iron (TSE:CIA) was upgraded by analysts at Desjardins to a “moderate buy” rating in a research note issued on Thursday, Zacks.com reports.

Several other analysts have also recently commented on CIA. Scotiabank upped their target price on Champion Iron from C$7.00 to C$7.25 and gave the company a “sector perform” rating in a report on Monday, July 15th. TD Securities reduced their target price on Champion Iron from C$8.00 to C$7.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$8.10.

Champion Iron Stock Performance

Champion Iron stock opened at C$5.61 on Thursday. The business has a 50 day moving average of C$5.69 and a 200-day moving average of C$5.87. Champion Iron has a 1 year low of C$4.74 and a 1 year high of C$7.77. The company has a debt-to-equity ratio of 42.65, a current ratio of 2.42 and a quick ratio of 2.01. The company has a market capitalization of C$2.91 billion, a P/E ratio of 9.84, a P/E/G ratio of -1.35 and a beta of 1.39.

Champion Iron (TSE:CIA) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities research analysts predict that Champion Iron 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.