Champion Iron (ASX:CIA) will not see inventory destocking in the December 2024 quarter, following longer-than-expected shipment interruptions at its Canada facility, according to a Tuesday note from Euroz Hartelys.
Disruptions at the company's Bloom Lake project interrupted the facility's shipments from Dec. 3, 2024, which gradually resumed on Dec. 17, Euroz Hartleys said.
Euroz Hatleys believes that the facility will face additional maintenance during load-out facility repairs.
The firm expects CIA to provide details on its destocking in its quarterly results slated for release on Jan. 30.
Euroz Hartleys maintained the company's buy rating but lowered its price target to AU$9.50 from AU$9.60.
Shares of Champion Iron fell past 2% at market close Wednesday.
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