• Champion acquired the shuttered Bloom Lake Iron Ore Mine from Cliffs Natural Resources in 2016.
  • Champion subsidiary Quebec Iron Ore reopened the mine in 2018, with plans to expand production.
  • In 2024 the expanded Bloom Lake Mine hit record level production of high grade iron ore concentrate.

Champion has a substantial portfolio of iron ore assets, with two others it considers “flagship” assets along with Bloom Lake and six additional iron ore exploration prospects in Quebec and another in Newfoundland, Canada.

Champion began paying dividends in FY 2022 — $0.33 per share.  In FY 2023 the dividend payment dropped to $0.22 per share, a yield of 2.91%. The low payout ratio of 47.04% suggests Champion has some flexibility in dividend payments in the near future.

CIA - news 22nd Jan

Source: ASX

Over five years the share price is up 595.5%.

 

Top Australian Brokers

 

On 4 January the share price hit an all-time high of $8.75 per share.  On 30 September Champion released financial results for their Half Year 2023.  Revenues were up 18% and net profit rose 34%.

An analyst at Fairmont Equities has a BUY recommendation on Champion Iron shares, based on a bullish outlook for iron ore in 2024, with technical indicators of breaking through resistance levels should result in continued upside.

Marketscreener.com has a consensus BUY recommendation on Champion shares, with of the sixteen analysts reporting at BUY, seven at OUTPERFORM, and three at HOLD.

The Wall Street Journal also has a consensus BUY rating on CIA, with six analysts at BUY, and one at OVERWEIGHT.

Don’t Buy Just Yet

You will want to see this before you make any decisions.

Before you decide which shares to add to your portfolio you might want to take a look at this special report we recently published.

Our experts picked out The 5 best ASX shares to buy in 2024.

We’re giving away this valuable research for FREE.

Click below to secure your copy

Related Articles: