B. Riley Comments on Champion Iron Limited’s Q2 2023 Earnings (TSE:CIA)

Champion Iron Limited (TSE:CIAGet Rating) – Equities research analysts at B. Riley cut their Q2 2023 earnings per share estimates for Champion Iron in a research note issued on Tuesday, August 2nd. B. Riley analyst L. Pipes now anticipates that the company will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.15. The consensus estimate for Champion Iron’s current full-year earnings is $0.88 per share.

Champion Iron (TSE:CIAGet Rating) last posted its earnings results on Thursday, May 26th. The company reported C$0.24 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.06. The company had revenue of C$331.38 million for the quarter, compared to the consensus estimate of C$222.70 million.

Other equities analysts have also issued reports about the company. Royal Bank of Canada dropped their price objective on Champion Iron from C$8.50 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, July 29th. TD Securities dropped their price objective on Champion Iron from C$7.00 to C$6.50 and set a “buy” rating on the stock in a research note on Friday, July 29th. Scotiabank lifted their price objective on Champion Iron from C$7.50 to C$8.50 in a research note on Wednesday, April 13th. Raymond James dropped their price objective on Champion Iron from C$8.75 to C$8.25 and set an “outperform” rating on the stock in a research note on Wednesday, July 6th. Finally, Clarkson Capital reissued a “buy” rating on shares of Champion Iron in a research report on Tuesday, June 14th.

Champion Iron Trading Down 3.1 %

Champion Iron stock opened at C$4.01 on Wednesday. The company has a debt-to-equity ratio of 36.09, a quick ratio of 1.67 and a current ratio of 2.42. The business’s 50-day simple moving average is C$5.18 and its 200-day simple moving average is C$5.95. The firm has a market capitalization of C$2.07 billion and a PE ratio of 4.05. Champion Iron has a 52 week low of C$3.71 and a 52 week high of C$7.59.

Champion Iron Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, June 28th. Shareholders of record on Tuesday, June 28th were issued a dividend of $0.10 per share. This represents a yield of 1.43%. The ex-dividend date was Monday, June 6th. Champion Iron’s payout ratio is 20.20%.

About Champion Iron

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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.

See Also

Earnings History and Estimates for Champion Iron (TSE:CIA)

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