CIA – Macquarie rates the stock as Outperform

By Broker News | More Articles by Broker News

Champion Iron’s phase 2 feasibility study portrays attractive metrics for expansion, the broker notes, with an internal rate of return in excess of 30%. The final hurdle is to secure financing by mid-2020.

Were the broker to input current spot iron ore prices into its valuation, earnings would jump 170%. Outperform and $4.00 target retained.

Sector: Materials.

Target price is $4.00.Current Price is $3.11. Difference: $0.89 – (brackets indicate current price is over target). If CIA meets the Macquarie target it will return approximately 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →