In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Champion Iron Ltd. (CIA – Research Report). Analyst Hayden Bairstow from Macquarie remains bullish on the stock and has an A$7.60 price target.
According to TipRanks.com, Bairstow is a 2-star analyst with an average return of 0.0% and a 41.1% success rate. Bairstow covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Fortescue Metals Group Ltd, and Sandfire Resources Limited.
Champion Iron Ltd. has an analyst consensus of Strong Buy, with a price target consensus of C$7.18, representing a 37.8% upside. In a report issued on September 27, Jarden also maintained a Buy rating on the stock with a A$7.33 price target.
Based on Champion Iron Ltd.’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$297 million and net profit of C$16.66 million. In comparison, last year the company earned revenue of C$311 million and had a net profit of C$105 million.
Champion Iron Ltd is engaged in the exploration and development of iron ore properties in Quebec, Canada. The company’s operating segment include Mine Site, Exploration and Evaluation, and Corporate. It generates maximum revenue from Mine Site segment. The company projects include Fire Lake, Powderhorn/Gullbridge, Moire, Quinto Claims, Harvey Tuttle, O’keefe-Purdy, and others.
The company’s shares closed last Thursday at C$5.33.
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