Champion Iron (TSE:CIA) Upgraded to Strong-Buy at Citigroup

Citigroup upgraded shares of Champion Iron (TSE:CIA) to a strong-buy rating in a report issued on Sunday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on CIA. TD Securities reduced their price target on shares of Champion Iron from C$8.00 to C$7.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Raymond James set a C$8.00 target price on shares of Champion Iron and gave the stock an “outperform” rating in a research note on Thursday, January 2nd. Finally, Desjardins upgraded shares of Champion Iron to a “moderate buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$7.63.

Champion Iron Price Performance

Shares of CIA traded down C$0.11 during mid-day trading on Friday, reaching C$5.30. 46,513 shares of the stock traded hands, compared to its average volume of 364,136. Champion Iron has a 1 year low of C$4.74 and a 1 year high of C$7.58. The company has a current ratio of 2.42, a quick ratio of 2.01 and a debt-to-equity ratio of 42.65. The company has a market cap of C$2.75 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of -1.35 and a beta of 1.39. The firm has a fifty day moving average price of C$5.22 and a 200 day moving average price of C$5.49.

Champion Iron (TSE:CIA) last posted its quarterly earnings results on Thursday, October 31st. The company reported C$0.04 earnings per share for the quarter, missing the consensus estimate of C$0.11 by C($0.07). Champion Iron had a return on equity of 22.52% and a net margin of 17.64%. During the same quarter in the prior year, the company earned $0.12 earnings per share. As a group, 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.