Financial News, Analysis and Data, FNArena

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Equity Bottom-Up

<ul><li>Rising costs and weak pricing weighed on first quarter earnings for Champion Iron, but development projects remain on course to support growth.</li><li> -Champion Iron&rsquo;s first quarter production and earnings disappoint -Record sales, but rising costs and lower realised pricing -Capex projects on track, liquidity expected to improve -Improving balance sheet, but still sensitive to commodity prices</li></ul>

Rising costs and weak pricing weighed on first quarter earnings for Champion Iron, but development projects remain on course to support growth. -Champion Iron&rsquo;s first quarter production and earnings disappoint -Record sales, but rising costs and lower realised pricing -Capex projects on track, liquidity expected to improve -Improving balance sheet, but still sensitive to commodity prices

Can Champion Iron Deliver On Growth Projects?

<ul><li>A global perspective on what happened overnight</li></ul>

A global perspective on what happened overnight

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Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>Iron ore bounced from the 100 USD/ton level and has maintained a rangebound level between 95 and 130 USD/ton for the last three years.</li>
<li>Inventories at the ports continued to increase, surpassing 150 million tons, representing about 38 days of inventory (normalized levels around 35 days). </li>
<li>After Capital Group's recent selldown<a href="https://www.mining.com/web/fortescue-investor-seeks-to-sell-1-3-billion-worth-of-shares/" target="_blank" rel="noopener">, </a><a href="https://www.smartkarma.com/entities/fortescue-metals-group-ltd" target="_blank" rel="noopener">Fortescue Metals (FMG AU)</a> looks attractive (with a trailing dividend yield of 11% and 6.5x PE) and could be worth exploring. </li>
</ul>


Iron ore bounced from the 100 USD/ton level and has maintained a rangebound level between 95 and 130 USD/ton for the last three years.
Inventories at the ports continued to increase, surpassing 150 million tons, representing about 38 days of inventory (normalized levels around 35 days). 
After Capital Group's recent selldown, Fortescue Metals (FMG AU) looks attractive (with a trailing dividend yield of 11% and 6.5x PE) and could be worth exploring. 


Iron Ore Tracker (07-Aug-2024): Port Arrivals High, Inventory Piles up at 35 Ports

Australia

champion Iron Limited is a exploration company. The Company acquires, explores and develops properties for iron ore deposits.

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Champion Iron (CIA AU)

Can Champion Iron Deliver On Growth Projects?

Rising costs and weak pricing weighed on first quarter earnings for Champion Iron, but development projects remain on course to support...

FNArena

Fletcher Building Ltd - The Overnight Report: Tariff Impacts Felt

A global perspective on what happened overnight

FNArena

Rudi's View: Gold stocks & Miners, DigiCo, Pinnacle & More

FNArena

Iron Ore Tracker (07-Aug-2024): Port Arrivals High, Inventory Piles up at 35 Ports

With iron ore continuing to remain rangebound between 95-130 USD/ton for the last 3 years (with minor overshoots), we summarize actionable ideas in...

Sameer Taneja

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