CHAMPION IRON LIMITED (CIA)
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CIA

CIA - CHAMPION IRON LIMITED

FNArena Sector : Iron Ore
Year End: March
GICS Industry Group : Materials
Debt/EBITDA: 1.72
Index: ASX200 | ASX300 | ALL-ORDS

Champion Iron is engaged in the exploration, development and production of iron ore in Quebec, Canada. The company has been listed on the ASX since 2007.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.03

05 Dec
2025

0.080

OPEN

$6.04

1.34%

HIGH

$6.04

1,119,806

LOW

$5.91

TARGET
$5.325 -11.7% downside
OTHER COMPANIES IN THE SAME SECTOR
ARI . DRR . FEX . FMG . GEN . GRR . MGX . MIN .
FNARENA'S MARKET CONSENSUS FORECASTS
CIA: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 44.7 xxx
DPS (cps) 10.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 13.5 xxx
Dividend Yield 1.7% xxx
Div Pay Ratio(%) 22.4% xxx
This company reports in CAD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 3.07%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.61

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 11/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx30.2
DPS All xxxxxxxxxxxxxxx22.2
Sales/Revenue xxxxxxxxxxxxxxx1,771.3 M
Book Value Per Share xxxxxxxxxxxxxxx308.8
Net Operating Cash Flow xxxxxxxxxxxxxxx335.2 M
Net Profit Margin xxxxxxxxxxxxxxx8.84 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx9.84 %
Return on Invested Capital xxxxxxxxxxxxxxx6.71 %
Return on Assets xxxxxxxxxxxxxxx4.75 %
Return on Equity xxxxxxxxxxxxxxx9.84 %
Return on Total Capital xxxxxxxxxxxxxxx14.81 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-414.5 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx61 M
Long Term Debt xxxxxxxxxxxxxxx831 M
Total Debt xxxxxxxxxxxxxxx892 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx131 M
Price To Book Value xxxxxxxxxxxxxxx1.57

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx667.7 M
Capex % of Sales xxxxxxxxxxxxxxx37.69 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,334 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx84 M
Research & Development xxxxxxxxxxxxxxx9 M
Investments - Total xxxxxxxxxxxxxxx17 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

31/10/2025

3

Neutral

$5.00

-17.08%

Macquarie notes Champion Iron's September quarter (2Q26) result beat across key metrics, but ore hardness remains an issue, though some improvement was seen during the quarter.

Production of 3.6Mt was ahead of the consensus by 6%, driven by record material movement, higher head grades (29.6%), and better Fe recoveries (79.6%). Sales volumes again exceeded production as stockpiles were drawn down despite rail maintenance.

Unit costs improved due to higher grades, recoveries, and sales. Ore hardness issues persist but are moderating, with access to new ore sources expected to aid blending.

The broker notes the DRPF project (upgrading to 69% Fe DR-grade feed) remains on schedule for 1H 2026 commissioning, with inflation-adjusted budget now CA$500m (from CA$470m), and premium pricing negotiations ongoing.

The broker cut FY26 EPS forecast by -9% on higher interest expenses from the rising debt balance.

Neutral maintained with unchanged target of $5.

FORECAST
Macquarie forecasts a full year FY26 dividend of 10.00 cents and EPS of 46.33 cents.
Macquarie forecasts a full year FY27 dividend of 18.89 cents and EPS of 45.67 cents.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Canaccord Genuity

30/10/2025

1

Buy

-

-

Canaccord Genuity describes Champion Iron's September quarter as a solid operating period, with production and costs exceeding expectations despite planned maintenance.

Revenue of CA$493m and adjusted EBITDA of CA$175m were well above consensus, supported by strong rail performance and accelerated de-stocking.

Bloom Lake outperformed forecasts through effective blending strategies that offset harder ore challenges, resulting in higher production and lower costs. Shipments reached a record 3.85mt, aided by improved rail logistics, while on-site inventory fell to 1.7mt.

The CA$500m DRPF project is nearing completion, with commissioning expected by year-end and a gradual ramp-up through 2026 as customers test the product.

The KAMI JV with Nippon Steel and Sojitz has completed its initial closing, with a Definitive Feasibility Study due by end-2026.

Buy rating reiterated with CA$6.50 target price.
Access Extra Coverage Research History >

CIA STOCK CHART

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