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12 stories mentioning ASX:CIAUpdated 17h ago

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Asia

Champion Iron's Elevated June Quarter Canada Mine Cash Costs Driven by Higher Fuel, Explosives Prices, Euroz Hartleys Says

Champion Iron's (ASX:CIA) elevated June quarter cash costs at the Bloom Lake mine in Canada were driven by higher fuel prices due to the Middle East conflict as well as higher explosives prices, Euroz Hartleys said in a note on Thursday.Its concentrate production of 3.5 million wet metric tonnes from the mine was 3% ahead of the investment firm's forecast of 3.4 million wet metric tonnes, while sales volume of over 3.1 million dry metric tonnes was a 7% miss against our 3.4 million dry metric tonnes.The June quarter marked the first three months of contribution from Rana Gruber from transaction completion on April 10, reflecting less than a full quarter of operations.The investment firm retained its buy rating on Champion Iron and placed its AU$6.80 per share price target under review.

ASX:CIA
Asia

ASX Preview: Australian Shares to Fall Amid Oil Surge, Fed Policy Uncertainty; Champion Iron Swings to Fiscal Q1 Loss, Revenue Down

Australian shares are poised to fall on Thursday as a surge in oil prices fuels inflation concerns and heightens worries over Middle East supply disruptions.Investors are also weighing uncertainty around US monetary policy after Federal Reserve Chair Kevin Warsh kept rates unchanged while signaling further tightening could be considered if inflation remains persistent.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.5%, 1.7%, and 2.2%, respectively.In the macroeconomy, Australia's building approvals and international trade price indexes data are due at 11:30 am Sydney time.In corporate news, Champion Iron (ASX:CIA) reported Thursday fiscal first quarter loss of CA$0.07 per share on revenue of CA$356.9 million, compared with profit of of CA$0.05 on revenue of CA$390 million a year earlier.Domino's Pizza Enterprises (ASX:DMP) reaffirmed its fiscal 2026 underlying profit after tax guidance of AU$118 million to AU$122 million despite expecting a statutory loss after booking around AU$300 million in mostly non-cash balance sheet write-downs.Australia's benchmark index rose 1%, or 90.8 points, to close at 9,038.60 on Wednesday.

ASX 200ASX:CIAASX:DMP
Asia

Champion Iron Logs Loss in Fiscal Q1; Revenue Down

Champion Iron (ASX:CIA) logged CA$0.07 in loss per share for the fiscal first quarter, compared with a profit of CA$0.05 a year ago, a Thursday filing showed.For the the three months ended June 30, revenue was CA$356.9 million versus CA$390 million previously, the Australia-listed mining company added.

ASX:CIA
Asia

Champion Iron Appoints CFO

Champion Iron (ASX:CIA) appointed Michael Marcotte as chief financial officer and Steve Boucratie as chief legal and strategy officer, according to a Thursday filing with the Australian bourse.Marcotte most recently served as senior vice president of corporate development and capital markets, while Boucratie was senior vice president, general counsel, and corporate secretary, the filing added.

ASX:CIA
Asia

Champion Iron Fiscal Year 2027 Forecasts to be Impacted by Higher Fuel, Freight Costs, Euroz Hartleys Says

Champion Iron's (ASX:CIA) higher cost forecasts over fiscal 2027 reflect elevated fuel and freight costs amid recent C3 index volatility due to Middle East logistics disruptions, Euroz Hartleys said in a note on Friday.Euroz Hartleys reset its June quarter Bloom Lake forecasts, lowering production and sales to 3.43 million tonnes and 3.35 million tonnes, with unit cash costs and all-in sustaining costs rising to CA$82 per tonne and CA$95 per tonne, respectively.The investment firm retained its buy rating on Champion Iron and cut the price target to AU$6.80 per share from AU$7.70 per share.

ASX:CIA
Asia

Champion Iron Produces Direct Reduction Quality Iron Ore From Canada Project

Champion Iron (ASX:CIA) produced direct reduction quality iron ore from its direct reduction pellet feed project at the Bloom Lake mine in Canada, according to a Monday filing with the Australian bourse.A maiden commercial sale of a Capesize vessel, containing at least 160,000 wet metric tonnes, is anticipated in the third quarter, the filing said.The project is expected to increase in capacity gradually to achieve full commercial production toward the end of the current financial year, per the filing.Shares rose 2% in morning trade on Monday.

ASX:CIA
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Friday.Energy Resources of Australia (ASX:ERA): -20%, AU$0.002Champion Iron (ASX:CIA): -5%, AU$4.54Superloop (ASX:SLC): -5%, AU$3.42Weebit Nano (ASX:WBT): -4%, AU$7.05Helia Group (ASX:HLI): -3%, AU$4.84GemLife Communities Group (ASX:GLF): -3%, AU$4.45Karoon Energy (ASX:KAR): -3%, AU$1.94Viva Energy Group (ASX:VEA): -2%, AU$2.11Ryman Healthcare (ASX:RYM): -2%, AU$1.88CSL (ASX:CSL): -2%, AU$96.05

ASX 200ASX:CIAASX:CSLASX:ERAASX:GLFASX:HLIASX:KARASX:RYMASX:SLCASX:VEAASX:WBT
Asia

Champion Iron Posts Lower Adjusted Earnings, Revenue for Fiscal Q4; Tweaks Divided Policy

Champion Iron (ASX:CIA) reported Thursday fiscal fourth-quarter adjusted earnings of CA$0.04 per share, down from CA$0.08 a year earlier.Analysts polled by FactSet expected CA$0.05.Revenue for the three months ended March 31 was CA$414.5 million, down from CA$425.3 million in the year-ago period.Analysts surveyed by FactSet expected CA$415.7 million.Champion Iron said its board approved a revised divided policy under which it aims to pay semi-annual dividends equivalent to 30% to 40% of the company's trailing six-month free cash flows. The new policy will apply to the semi-annual results for fiscal 2027.The company declared a semi-annual dividend of CA$0.02 per share, payable July 8 to shareholders on record as of June 12.The company's shares fell nearly 2% in recent Thursday trade.

ASX:CIA
Asia

Champion Iron's March Quarter Production Result Soft As Expected, Euroz Hartleys Says

Champion Iron's (ASX:CIA) March quarter production result was soft as expected due to railway interruptions in early January and bi-annual scheduled maintenance at both concentration plants, Euroz Hartleys said in a note on Thursday.Production was in line with estimates at 3.4 million tonnes, with higher-than-modeled recoveries offset by lower head grades against its estimates.Euroz Hartleys forecast fiscal 2026 revenue of CA$1.76 billion, earnings before interest, taxes, depreciation, and amortization of CA$490 million, earnings per share of CA$0.25, and a final dividend of CA$0.10 per share.The investment firm maintained its buy rating and price target of CA$7.70 per share on Champion Iron.Champion Iron's shares were up 3% in recent Friday trade.

ASX:CIA
Asia

Champion Iron Reports Higher Fiscal Q4 Iron Ore Concentrate Production

Champion Iron (ASX:CIA) reported fiscal fourth-quarter production of 3.4 million wet metric tonnes of iron ore concentrate, up 8% from about 3.2 million wet metric tonnes a year earlier, according to a Thursday filing with the Australian bourse.The company reported quarterly sales of about 3.5 million dry metric tonnes, almost unchanged from the year-ago period.Champion Iron said commissioning for its Direct Reduction Pellet Feed project in Canada progressed as planned, with initial production tests completed in March and the production of commercially sellable product expected by the end of June.

ASX:CIA
Asia

Champion Iron March Quarter Outlook Flags Weaker Earnings, Euroz Hartleys Says

Champion Iron (ASX:CIA) is expected to deliver a softer March quarter than market expectations, with Euroz Hartleys citing operational headwinds including maintenance activity, rail disruptions, and pricing pressure, alongside progress on the Rana Gruber acquisition, according to a Monday note.Euroz Hartley has trimmed its March quarter forecasts for the company, pointing to a softer-than-expected operating environment across the period, with revenue, earnings before interest, taxes, depreciation, and amortization, and net income now forecast to come in 5%, 12%, and 82% below consensus, respectively, while production remains broadly steady but margins are weaker.The firm highlights the completed acquisition of Rana Gruber, noting a 92.5% acceptance rate, and estimates an initial net asset value contribution of AU$342 million under base assumptions, rising to AU$736 million at spot prices, based on a 15-year mine life at 5 million tonnes per annum throughput with improving concentrate grades.Euroz Hartleys kept a buy rating on Champion Iron with a price target of AU$7.70.

ASX:CIA
Asia

Champion Iron Completes Acquisition of Norwegian Iron Ore Producer

Champion Iron (ASX:CIA) completed its voluntary cash tender offer to acquire all of the issued and outstanding shares of Norway-based iron ore producer, Rana Gruber, at 79 Norwegian kroner each in cash, according to a Monday Australian bourse filing.Acceptances of the offer were received from a total of 34.3 million shares held by Rana Gruber's shareholders, representing 92.48% of issued and outstanding shares, the filing said.Champion plans to carry out a compulsory acquisition of the remaining shares of Rana Gruber in accordance with applicable Norwegian securities laws after the completion, per the filing. It also plans to take steps to delist Rana Gruber's shares from the Euronext Oslo Bors.

ASX:CIA

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