Champion Iron (TSE:CIA) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Champion Iron Limited (TSE:CIA)’s stock price 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.

Analyst Upgrades and Downgrades

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

Champion Iron Trading Down 3.1 %

The stock has a market capitalization of C$3.12 billion, a P/E ratio of 10.56, a P/E/G ratio of -1.35 and a beta of 1.39. The stock’s 50 day moving average price is C$5.64 and its 200-day moving average price is C$5.92. The company has a quick ratio of 2.01, a current ratio of 2.42 and a debt-to-equity ratio of 42.65.

Champion Iron (TSE:CIA) last announced its earnings results 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). The company had revenue of C$467.08 million for the quarter, compared to the consensus estimate of C$454.50 million. Champion Iron had a net margin of 17.64% and a return on equity of 22.52%. As a group, equities research analysts expect 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.