BUZZ-Australia's Champion Iron drops to over 3-year low, Bell Potter cuts PT

Reuters

Apr 04, 2025

** Shares of iron ore explorer Champion Iron CIA.AX fall 5.4% to A$4.305, their lowest since early-December 2021

** Stock down 17.4% this week, set for sharpest weekly loss since mid-June 2022

** Bell Potter cuts price target to A$6.2 from A$7.1, says it expects the relatively tight trading range in iron ore prices to continue in the near term

** Adds that a shift into higher grade production in 2026 by co will support price realisation and its earnings amid an expected weakening iron ore price environment

** Brokerage expects earnings to continue to support dividends; maintains 'buy' rating

** Stock rated "buy" on avg; median PT is A$7.02, per data compiled by LSEG

** Stock price has dropped by 25.2% YTD, including current session's moves

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

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maintains 'buy' rating** Stock rated \"buy\" on avg; median PT is A$7.02, per data compiled by LSEG** Stock price has dropped by 25.2% YTD, including current session's moves(Reporting by Jasmeen Ara Shaikh in Bengaluru)((JasmeenAraIslam.Shaikh@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}