Cormark Comments on Champion Iron Limited’s FY2024 Earnings (TSE:CIA)

Champion Iron Limited (TSE:CIA) – Cormark reduced their FY2024 earnings estimates for shares of Champion Iron in a research report issued to clients and investors on Thursday, April 25th. Cormark analyst S. Ioannou now forecasts that the company will post earnings per share of $0.41 for the year, down from their previous forecast of $0.60. The consensus estimate for Champion Iron’s current full-year earnings is $0.98 per share. Cormark also issued estimates for Champion Iron’s Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.18 EPS and FY2025 earnings at $0.64 EPS.

A number of other equities research analysts also recently commented on the company. Scotiabank decreased their target price on Champion Iron from C$7.00 to C$6.50 and set a “sector perform” rating on the stock in a research report on Wednesday, April 24th. Raymond James lowered their target price on Champion Iron from C$8.50 to C$8.00 in a research report on Monday, April 1st. Finally, B. Riley boosted their price target on shares of Champion Iron from C$8.00 to C$10.00 and gave the stock a “buy” rating in a research report on Friday, January 12th.

Champion Iron Stock Up 2.5 %

CIA opened at C$6.51 on Monday. The company has a market capitalization of C$3.37 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of -1.35 and a beta of 1.23. The firm has a 50-day simple moving average of C$6.42 and a two-hundred day simple moving average of C$6.69. The company has a quick ratio of 2.01, a current ratio of 2.85 and a debt-to-equity ratio of 44.59. Champion Iron has a 52 week low of C$4.57 and a 52 week high of C$7.77.

Champion Iron (TSE:CIA) last issued its quarterly earnings results on Wednesday, January 31st. The company reported C$0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.19 by C$0.05. Champion Iron had a return on equity of 23.32% and a net margin of 17.92%. The business had revenue of C$506.89 million during the quarter, compared to analyst estimates of C$468.60 million.

Champion Iron Company Profile

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.