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Kalkine Media ASX Share Market News & Research

Here’s FY24 earnings estimate for Champion Iron (ASX: CIA)

January 05, 2024 08:58 AM CET | By Team Kalkine Media
Here’s FY24 earnings estimate for Champion Iron (ASX: CIA)
Image source: lp-studio

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Analysts at Raymond James and Scotiabank have recently revised their earnings per share (EPS) estimates for Champion Iron (ASX: CIA), projecting a significant increase in earnings for FY2024 and FY2025. 

Raymond James analyst B. Macarthur upgraded Champion Iron's expected earnings for FY2024 to AU$0.52 per share, marking a positive revision from their previous forecast of AU$0.47. Additionally, Raymond James maintains an "Outperform" rating for the stock and sets a price objective of AU$8.25. The consensus estimate for Champion Iron's current full-year earnings stands at AU$0.81 per share. 

In a separate analysis, Scotiabank raised Champion Iron's price objective from CA$6.50 to CA$7.00 and reaffirmed an "outperform" rating for the stock. 

Champion Iron's Market Performance 

Champion Iron's stock opened at CA$7.55, showcasing a twelve-month low of CA$4.57 and a high of CA$7.71. The stock's moving averages depict stability with a 50-day average of CA$6.89 and a two-hundred-day average of CA$5.82. Additionally, the company maintains a healthy current ratio of 2.86 and a quick ratio of 2.01. 

Champion Iron's Financial Performance 

The company recently reported earnings, surpassing expectations with CA$0.12 earnings per share for the quarter, exceeding the consensus estimate by CA$0.03. Additionally, Champion Iron displayed a commendable return on equity of 17.98% and a net margin of 14.77%. 

Champion Iron Company Profile 

Champion Iron Limited primarily operates in Canada, focusing on acquiring, exploring, developing, and producing iron ore deposits. Its core projects, such as the Bloom Lake Mine, Consolidated Fire Lake North project, and the Kamistiatusset project, play a vital role in its operations. 

Conclusion 

The revised earnings estimate from leading analysts indicate a positive outlook for Champion Iron, driving investor confidence. With a strong financial performance and strategic projects, the company remains positioned for growth.

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