Latest news with #ChampionIron
News.com.au
21 hours ago
- Business
- News.com.au
Closing Bell: Resources weigh heavy on ASX, down 0.16pc as tech rally fizzles
Copper prices crash 20pc Materials sector undercuts market, down 2.57pc Info tech rally not enough to push ASX into positive territory Tech rally fails to lift resources The ASX staged a steady recovery through the day to finish down just 0.16%, regaining ground on strength in the info tech and discretionary sectors. But, even with eight sectors scraping into the green the malaise in resources stocks was just too strong to lift. Between copper's dramatic plunge and another slide in gold prices last night, the ASX 200 Resources lost an eyewatering 2.26% today, and the ASX All Ords Gold 2.61%. Our tech movers and shakers for the day include Weebit Nano (ASX:WBT), up a very respectable 19% on some solid quarterly results. The semiconductor firm's ReRAM technology is on track to finish the qualification process with South Korean semiconductor manufacturer DB HiTek before the end of the year, which could lead to some lucrative contracts. Counter-drone technology company Droneshield (ASX:DRO) is also back in the good books, climbing 17% after taking a sharp hit to its share price just over a week ago. The company has now recovered to just 15c off its all-time high. Organisation technology specialist Atturra (ASX:ATA) added 6.8%, while cybersafety group Qoria (ASX:QOR) lifted 5.2%. On the other side of the balance sheet were our struggling resources stocks, joined by some equally out-of-favour energy companies. Champion Iron (ASX:CIA) slid 12%, Beach Energy (ASX:BPT) fell 9%, Mineral Resources (ASX:MIN) minimised by 7.9% and Pilbara Minerals (ASX:PLS) slumped 7.5%. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap ASR Asra Minerals Ltd 0.002 100% 1647649 $4,000,198 WEL Winchester Energy 0.002 100% 6816666 $1,363,019 DMG Dragon Mountain Gold 0.006 50% 1331226 $1,578,687 PAB Patrys Limited 0.002 41% 845577 $3,358,031 I88 Infini Resources Ltd 0.17 36% 706766 $6,546,252 CR9 Corellares 0.004 33% 2793904 $3,021,809 EAT Entertainment 0.004 33% 100000 $3,926,358 MSG Mcs Services Limited 0.008 33% 10439676 $1,188,598 ALM Alma Metals Ltd 0.006 33% 1352499 $8,328,317 TOU Tlou Energy Ltd 0.024 33% 1826395 $23,374,518 1AD Adalta Limited 0.0025 25% 75962 $2,225,966 BIT Biotron Limited 0.0025 25% 200000 $2,654,492 BUY Bounty Oil & Gas NL 0.0025 25% 34611 $3,122,944 CZN Corazon Ltd 0.0025 25% 29873 $2,369,145 DDT DataDot Technology 0.005 25% 2368338 $4,843,811 DTM Dart Mining NL 0.0025 25% 886063 $2,396,111 GGE Grand Gulf Energy 0.0025 25% 539559 $5,640,850 MTB Mount Burgess Mining 0.005 25% 351392 $1,702,553 PKO Peako Limited 0.0025 25% 871167 $2,975,484 RAN Range International 0.0025 25% 2380188 $1,878,581 TMK TMK Energy Limited 0.0025 25% 1300000 $20,444,766 BDG Black Dragon Gold 0.086 23% 2374086 $22,257,624 IS3 I Synergy Group Ltd 0.011 22% 5454999 $15,356,699 SBR Sabre Resources 0.011 22% 38800 $3,550,157 IAM Income Asset 0.035 21% 9596256 $26,995,254 In the news… Winchester Energy (ASX:WEL) has been reinstated to the ASX after clearing a regulatory hurdle by appointing two more non-executive directors and filling out the required three-person roster. WEL is welcoming Jason Peterson, founder of CPS Capital Group, and David Wheeler, director and partner at boutique corporate advisory firm Pathways Corporate, to the board. The company is now seeking advice over a general meeting requirement. Alma Metals (ASX:ALM) upgraded its Briggs copper JV project resource this quarter, lifting it to 2Mt of copper, 73Mlb of molybdenum and 16.5Moz of silver. ALM has also had some metallurgical success, obtaining high copper recoveries of 95% from Briggs ore and refining high-grade concentrates of up to 29% copper with locked-cycle froth flotation methods, a technology with fairly low power consumption requirements. Patrys (ASX:PAB) had a solid quarter of corporate strategising, restructuring its board and actively pursuing partnering and licensing opportunities for both of its oncological cell therapy deoxymab assets. The biotech also raised just over $300k, continued the hunt for new assets to diversify its risk profile, and raked in an R&D rebate of $790k to bring its cash balance to $742k. Black Dragon Gold (ASX:BDG) has made positive progress toward a strategic investment in the Salave gold project by the Principality of Asturias, following introduction of new legislation in December 2024. A community consultation process has revealed the project is supported by about 63% of the local community, with many calling for investment in the region to generate job opportunities. BDG had CAD$1.085 million in the bank at the end of June. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap MHK Metalhawk. 0.175 -53% 4222178 $45,655,248 AQC Auspaccoal Ltd 0.008 -33% 14458499 $8,405,611 CYQ Cycliq Group Ltd 0.002 -33% 274297 $1,381,550 ECT Env Clean Tech Ltd. 0.002 -33% 76491887 $12,046,306 XPN Xpon Technologies 0.008 -27% 11918252 $4,556,785 CHM Chimeric Therapeutic 0.003 -25% 3775000 $12,996,494 MEL Metgasco Ltd 0.002 -20% 10000 $4,592,717 3DP Pointerra Limited 0.046 -19% 5829994 $45,889,377 AIV Activex Limited 0.013 -19% 160499 $3,448,041 GRE Greentechmetals 0.065 -19% 839637 $9,071,611 RR1 Reach Resources Ltd 0.009 -18% 739225 $9,618,745 IR1 Irismetals 0.09 -18% 2371209 $19,575,532 BNL Blue Star Helium Ltd 0.005 -17% 34852048 $16,169,312 NOX Noxopharm Limited 0.105 -16% 86455 $36,529,744 MQR Marquee Resource Ltd 0.011 -15% 8465110 $7,627,350 LM1 Leeuwin Metals Ltd 0.098 -15% 277188 $11,592,734 AUK Aumake Limited 0.003 -14% 11809835 $10,581,756 NWM Norwest Minerals 0.012 -14% 40425 $13,557,020 RDS Redstone Resources 0.003 -14% 4048334 $3,619,936 SER Strategic Energy 0.006 -14% 2187909 $4,697,233 SHP South Harz Potash 0.003 -14% 3127159 $4,490,717 IG6 Internationalgraphit 0.061 -14% 502816 $13,742,641 MAG Magmatic Resrce Ltd 0.044 -14% 611028 $22,554,786 IME Imexhs Limited 0.285 -14% 41772 $17,704,253 AKA Aureka Limited 0.091 -13% 797527 $13,235,280 IN CASE YOU MISSED IT Ramelius Resources (ASX:RMS) has completed the acquisition of Spartan Resources (ASX:SPR), gaining access to millions of gold ounces. Airtasker (ASX:ART) strengthened its cash and kept scaling this quarter without the need for fresh capital. Island Pharmaceuticals (ASX:ILA) has completed the acquisition of the promising Galidesivir anti-viral drug after finalising due diligence ahead of schedule. Perpetual Resources (ASX:PEC) is finalising plans for drilling to support a maiden JORC resource estimate at its Raptor rare earths project in Brazil. Geopacific Resources (ASX:GPR) is building momentum at its Woodlark Gold Project in PNG thanks to a sharp focus and near-term entrance of St Barbara. Taruga Minerals' (ASX:TAR) review of legacy datasets and airborne VTEM survey findings has confirmed the presence of a discrete conductor at Thowagee, which TAR has elevated to a priority target. Albion Resources (ASX:ALB) has entered a deal with Capricorn Metals (ASX:CMM) for its Mongers Lake gold project in the West Australian Murchison. Blue Star Helium (ASX:BNL) fields solid flow test results at Aloha Mula 12 ('Hello Money') helium well in Lincoln County, Colorado, as it moves toward an option exercise decision. Orange Minerals (ASX:OMX) has successfully listed on the OTCQB Venture Market as it plans to advance exploration across African and Australian projects. Harvest Technology Group (ASX:HTG) recorded a 135% YoY increase in quarterly revenue, reaching $1.1 million in Q4 FY25, and expects total revenue for the full year to exceed $3.5 million. Trading halts Activeport Group (ASX:ATV) – cap raise Babylon Pump & Power (ASX:BPP) – potential acquisition and debt funding Chilwa Minerals (ASX:CHW) – cap raise Enova Mining (ASX:ENV) – cap raise Firetail Resources (ASX:FTL) – cap raise HeraMED (ASX:HMD) – cap raise Imagion Biosystems (ASX:IBX) – cap raise Nyrada (ASX:NYR) – cap raise Papyrus Australia (ASX:PPY) – cap raise RemSense Technologies (ASX:RMN) – cap raise TG Metals (ASX:TGM) – cap raise At Stockhead, we tell it like it is. While Weebit Nano is a Stockhead advertiser, it did not sponsor this article.
Business Insider
a day ago
- Business
- Business Insider
Citi Reaffirms Their Buy Rating on Champion Iron (CIA)
In a report released today, Kate McCutcheon from Citi maintained a Buy rating on Champion Iron, with a price target of A$6.20. The company's shares closed yesterday at C$4.17. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. McCutcheon covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Evolution Mining , and Mineral Resources Limited. According to TipRanks, McCutcheon has an average return of 7.8% and a 62.14% success rate on recommended stocks. In addition to Citi, Champion Iron also received a Buy from Desjardins's Bryce Adams in a report issued on July 18. However, today, Macquarie downgraded Champion Iron (TSX: CIA) to a Hold. Based on Champion Iron's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$425.35 million and a net profit of C$39.14 million. In comparison, last year the company earned a revenue of C$332.67 million and had a net profit of C$25.79 million
Business Insider
a day ago
- Business
- Business Insider
Macquarie downgrades Champion Iron (CIA) to a Hold
In a report released today, Robert Stein from Macquarie downgraded Champion Iron to a Hold, with a price target of A$5.00. The company's shares closed yesterday at C$4.17. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Stein covers the Basic Materials sector, focusing on stocks such as Champion Iron, Iluka Resources Limited, and BHP Group Ltd. According to TipRanks, Stein has an average return of 2.9% and a 58.33% success rate on recommended stocks. In addition to Macquarie, Champion Iron also received a Hold from TR | OpenAI – 4o's Grant Ironwyn in a report issued on July 23. However, today, Citi maintained a Buy rating on Champion Iron (TSX: CIA).
The Market Online
22-07-2025
- Business
- The Market Online
4 Canadian stocks built to bounce back from US tariffs
If we consider all tariffs placed on Canadian imports into the United States since the initial wave in March 2025, we find steel and aluminum (50%), automotive (25%) and copper (50%) to be the industries most at risk, resulting in widespread declines in related stocks and making it high time to put our active investor hats on in search of compelling opportunities. This content has been prepared in collaboration with Alcoa Corp., Champion Iron Ltd., Stellantis N.V. and Teck Resources Ltd., and is intended for informational purposes only. A quick Google for top Canadian stocks in each industry quickly turned up dozens of names – sourced from Trading View, Investopedia, Mining Technology and – freeing us up to dive into income statements and balance sheets for assurances, including proven management, growing revenue and strong profitability, in support of businesses likely to create shareholder value, even in the event of a prolonged trade war. Alcoa A convincing name to test with your due diligence is Alcoa, market capitalization US$8.02 billion, a global provider of bauxite, alumina and aluminum products with operations spread across Australia, Brazil, Spain and Canada, including three aluminum smelters in Quebec with combined production of nearly one million tons per year. The company managed to post positive net income in each of the past five quarters ending Q2 2025, ending the latter with alumina production of 2.4 million metric tons and aluminum production of 572,000 tons, each in line with year-over-year figures, minimizing tariff losses by redirecting product to non-US customers. With the price of aluminum rebounding in Q2 (see slide 15 of Alcoa's Q2 investor presentation), long-term demand tailwinds in place through the end of the decade (slide 13) and US$1.5 billion in cash and cash-flowing geographically diversified operations to support growth initiatives, the company appears to be well equipped to absorb the US$90 million in unfavorable impacts because of US tariffs expected in Q3, equal to those incurred in Q2, as it taps its global client base to source more non-US deals to re-direct supply. Alcoa stock (NYSE:AA) was down by as much as 32.12 per cent following the announcement of US tariffs on Canadian steel and aluminum imports on March 12, but has since recovered to a mere 4.33 per cent loss, maintaining a 149.49 per cent gain since 2020. Champion Iron Moving into the steel sector, I came across Champion Iron, market capitalization C$2.35 billion, which operates the Bloom Lake mining complex in Quebec, composed of an open-pit mine and two concentration plants that produce 66.2 per cent iron ore concentrate from one of the highest-purity resources globally. Ongoing upgrades to 69 per cent purity in December 2025 position the company to add to its products' premium relative to the Platts IODEX – a popular iron ore benchmark – as it continues to build upon its global customer track record spanning China, Japan, the Middle East, Europe, South Korea and India, as well as Canada, with no direct sales to the United States. Champion Iron's secondary asset, the Kamistiatusset mining properties only 21 kilometres to the southeast, are expected to deliver 9 million tons of iron per year grading above 67.5 per cent, and are currently under joint venture with Nippon Steel and Sojitz with eyes on a definitive feasibility study. Champion's global cachet has allowed it to achieve revenue growth in four out of the past five years, growing from C$1.281 billion in 2021 to C$1.6 billion in 2025, all while generating consistently positive annual net income in the hundreds of millions, whose variability reflects inflation, US tariffs and iron price volatility (see slide 10 of Champion's Q4 2025 investor presentation). Chief executive officer David Cataford expressed confidence is the company's near-term future, stating in the Q4 F2025 news release that, 'As global economies face uncertainties with rising trade tensions, our company benefits from robust financial liquidities and diversified global partners, enabling us to diligently advance our growth initiatives.' Propelled by increased cash flow from purity upgrades at Bloom Lake, near-term development at Kami, as well as a portfolio of prospective exploration projects, investors should expect more upside from earnings and the drill bit to carry this Canadian-listed stock higher. Champion Iron stock (TSX:CIA) last traded at C$4.54 and was down by as much as 23.75 per cent since US steel and aluminum tariffs first came to light in March. The loss currently stands at 0.87 per cent, with investors harboring a 20.04 per cent loss year-over-year and a 73.66 per cent gain since 2020. Stellantis Moving on to the auto sector, we have Stellantis, market capitalization US$26.53 billion, a global producer with more than 100 years in business and a portfolio of household names, including Chrysler, Dodge//SRT, Jeep, Ram, Alfa Romeo, FIAT and Maserati. With operations in more than 30 countries and customers in more than 130 markets, Stellantis has reached efficiencies reserved for only the world's most diversified companies, growing revenue from a pandemic low of €86.6 billion in 2020 to €189.5 billion in 2023, before slipping back to €156.8 billion in 2024 driven by lower volume, increased sales incentives and foreign exchange headwinds. Net income followed a parallel trajectory, rising from €29 million in 2020 to €18.5 billion in 2023, falling to €5.4 billion in 2024 as high inflation ate into demand. Stellantis decided to suspend 2025 guidance on account of US tariffs, but is estimating a C$3.7 billion loss combined across Q1 and Q2, according to a CBC report, which will likely spook investors and send the stock (NYSE:STLA) tumbling further, compounding its more than 50 per cent loss year-over-year. That said, the company's long-tenured management team ended 2024 with US$34.1 billion in cash and equivalents, enough to buy itself time to restructure as necessary, and is actively leveraging a leadership position as the largest producer of US-assembled vehicles (58%), with over half of adjusted operating income stemming from outside of North America (2023-2024) – as per slide 13 of Stellantis' Q1 presentation – to put itself on the path to growing profits once again. While hindered by the current macroeconomic climate, Stellantis remains committed to its Dare Forward initiative, announced in 2022, to maximize shareholder value by transitioning into a sustainable mobility tech company, eyeing carbon neutrality by 2038, and benefits from a balance sheet and income statements robust enough to make meaningful progress and improve market sentiment. Teck Resources Wrapping things up with copper, we turn our attention to Teck Resources, market capitalization C$26.27 billion, a top 10 copper producer and the world's largest zinc producer, delivering more than 440,000 tons and 850,000 tons in 2024, respectively. The company operates the Highland Mine, the largest copper mine in Canada, in addition to projects in Peru, Chile and the United States. Teck delivered variable revenue over the past five years, posting C$8.9 billion in 2020, rising to C$17.3 billion in 2022 and falling to just over C$9 billion in 2024. Net income told a similar story, reaching a five-year high of C$3.3 billion in 2022 and falling to C$406 million in 2024, reflecting commodity price volatility, as well as the sale of the company's steelmaking coal business in 2024 in a bid to reposition itself as a critical metals company. Teck is on track to almost triple copper production from 296,000 tons in 2023 to about 800,000 tons by 2030 – according to slide 12 of its latest investor presentation – with copper EBITDA margins expected to grow from 33 per cent in 2023 to 53 per cent in 2025, supported by a zinc business putting up impressive gross profits before depreciation and amortization in Q4 2024 and Q1 2025, diligently increasing the operational ability to create value in strong and weak demand environments. Management's envisioned trajectory will only be facilitated by Teck's minimal exposure to the US, having re-routed its zinc from the US to Asia to avoid earlier blanket tariffs across all Canadian imports. Teck stock (TSX:TECK.A) has been flat since Trump announced the potential 50 per cent tariff on Canadian copper on July 8, but remains down by more than 17 per cent year-over-year, despite a profitable track record, reflected in a 210 per cent return since 2020, earning conviction in its plans for future growth. Parting proviso Even though US tariffs may result in short-term volatility, presenting you with attractive entry points for stocks active in affected industries, share prices will always reflect value creation after the noise has cleared, leaving the cold, hard numbers of balance sheets and income statements in their wake. The longer a company has been growing profitably, the deeper the trust a management team deserves to grow your investment through the economic cycle, maneuvering through uncertainty towards greater efficiency and scale. All this is to say, take care to differentiate between fun-money or taking a flyer, if it's an itch you need to scratch – with a risk-adjusted percentage of your portfolio – and investing, where due diligence should be convincing enough to allow you to sleep well at night, no matter the temporary blips in the stock market's proven history of life-enhancing returns. Join the discussion: Find out what investors are saying about these tariff-resilient stocks on the Alcoa Corp., Champion Iron Ltd., Stellantis N.V. and Teck Resources Ltd. Bullboards, and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Yahoo
22-07-2025
- Business
- Yahoo
Champion Iron, Nippon Steel, Sojitz formalise alliance to develop Kami project
Champion Iron has reached a definitive framework agreement with Nippon Steel and Sojitz, forming the Kami Iron Mine Partnership to own and potentially develop the Kami iron ore project in Newfoundland and Labrador, Canada. The partners will initially invest C$245m ($178.4m) for an aggregate 49% stake in the new entity. The agreement was signed between the companies in December 2024. The initial investment is aimed at advancing the project towards an interim investment decision and a definitive feasibility study (DFS). The completion of a DFS is expected by the end of 2026. The agreement outlines a two-step transaction process, with an initial closing expected in the second half of 2025, subject to regulatory clearances and customary conditions. At this stage, Nippon Steel and Sojitz will contribute C$68.6m to secure their interests in the partnership. Champion Iron will have a 51% interest post the initial closing, with Nippon Steel and Sojitz holding 30% and 19%, respectively. The second closing, contingent on the initial closing and other conditions, will see the partners contribute an additional C$176.4m following a positive interim investment decision and the DFS. This will set the stage for potential construction, estimated at 48 months post-final investment decision. Champion Iron CEO David Cataford said: "The framework agreement marks a significant milestone for the Kami Project, establishing a clear structure to advance its evaluation alongside trusted partners who share our long-term vision for the growing demand for high-purity iron ore and our commitment to positively impact the communities where we operate. 'Supported by anticipated proceeds and the partners' pro-rata contributions of future expenditures, the partnership will enable us to advance the project without impacting our financial liquidity in the foreseeable future. As we move forward, our focus will shift to identifying opportunities to enhance the project's economics while remaining committed to our disciplined capital allocation strategy." Champion Iron also highlighted that as the project progresses, it continues to advance the environmental impact statement and engage with local stakeholders, including indigenous groups, to ensure the project's 'positive' regional impact. The company is also in talks with various government departments to seek support, given the recent classification of high-purity iron ore as a critical mineral. "Champion Iron, Nippon Steel, Sojitz formalise alliance to develop Kami project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
