Latest news with #ChampionIron
The Market Online
13 hours ago
- Business
- The Market Online
Canadian steel stocks falter as U.S. tariff hike escalates trade tensions
Canadian steel stocks took a hit on Monday following a dramatic escalation in trade tensions between the United States and its global partners Among the hardest hit was Algoma Steel Group (TSX:ASTL), which plunged 6.89 per cent Champion Iron (TSX:CIA), a Québec-based iron ore producer, also saw its shares dip 0.77 per cent, reflecting broader concerns about reduced demand from U.S. steelmakers Mining giant Teck Resources (TSX:TECK.A) slipped 0.24 per cent, as investors weighed the ripple effects of the tariffs on its steelmaking coal and base metals segments Canadian steel stocks took a hit on Monday following a dramatic escalation in trade tensions between the United States and its global partners. On Friday, U.S. President Donald Trump announced a plan to double tariffs on imported steel and aluminum—from 25 per cent to 50 per cent—effective this Wednesday (unless Taco Supreme changes his mind again). The move builds on the initial tariffs introduced shortly after he took office in January, intensifying an already volatile global trade environment. The announcement sent shockwaves through the Canadian materials sector, with investors reacting swiftly to the anticipated impact on cross-border trade and industrial demand. Among the hardest hit was Algoma Steel Group (TSX:ASTL), which plunged 6.89 per cent on Monday. The Ontario-based steelmaker, heavily reliant on U.S. exports, is expected to face significant headwinds as the cost of doing business across the border rises sharply. Champion Iron (TSX:CIA), a Québec-based iron ore producer, also saw its shares dip 0.77 per cent, reflecting broader concerns about reduced demand from U.S. steelmakers and potential supply chain disruptions. Meanwhile, diversified mining giant Teck Resources (TSX:TECK) slipped 0.24 per cent, as investors weighed the ripple effects of the tariffs on its steelmaking coal and base metals segments. 'Steel tariffs at this level will create mass disruption and negative consequences across our highly integrated steel supply chains and customers on both sides of the border,' the Canadian Steel Producers Association expressed in a statement. Analysts warn that the tariff hike could trigger retaliatory measures from Canada and other trading partners, further straining international trade relations. Despite the downturn, some industry watchers see a silver lining. The increased pressure may accelerate efforts to diversify export markets and invest in domestic infrastructure, potentially opening new opportunities for Canadian producers in the long term. As the world braces for the next chapter in this unfolding trade saga, one thing is clear: the steel sector is once again at the heart of a geopolitical storm. And for Canadian steel stocks, the road ahead promises to be anything but smooth. Join the discussion: Find out what everybody's saying about this stock on the industrials Bullboards, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Business Insider
3 days ago
- Business
- Business Insider
Champion Iron (CIA) Receives a Rating Update from a Top Analyst
In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on Champion Iron (CIA – Research Report), with a price target of C$6.00. Confident Investing Starts Here: Baretto covers the Basic Materials sector, focusing on stocks such as Teck Resources, Ivanhoe Mines, and Champion Iron. According to TipRanks, Baretto has an average return of 27.1% and a 56.68% success rate on recommended stocks. In addition to Canaccord Genuity, Champion Iron also received a Buy from BMO Capital's Alexander Pearce in a report issued on May 29. However, yesterday, CLSA maintained a Hold rating on Champion Iron (TSX: CIA). The company has a one-year high of C$6.90 and a one-year low of C$3.29. Currently, Champion Iron has an average volume of 417.1K. Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CIA in relation to earlier this year.
News.com.au
6 days ago
- Business
- News.com.au
Lunch Wrap: ASX up as Trump tariffs tossed by court, Nvidia fuels data centre rally
ASX data centre stocks surge after Nvidia's earnings Trump tariffs blocked by court Oil jumps on tariff call The ASX spent most of Thursday morning stuck in neutral gear, despite a roaring start from US futures. The ASX 200 swung back and forth before settling higher by midday, up by 0.2%. Overnight on Wall Street, the vibe was very different. Nvidia fired up the after-hours circuit, jumping over 5% thanks to a blockbuster earnings print: a 69% surge in Q1 sales as it ramps up production of its next-gen Blackwell chips. CEO Jensen Huang turned up the volume too, talking up exponential AI demand, fresh investment flowing in from the Middle East, and a thaw in US-China trade tensions. That was more than enough to jolt Nasdaq futures 1.7% higher this morning. Market sentiment also turned positive after Federal judges in Oregon ruled Trump's sweeping global tariffs were illegally imposed. Turns out you can't just call a trade deficit a national emergency and start slapping on levies. The judges rejected it outright and Trump is now appealing the decision. But for now, markets are breathing a sigh of relief. Oil prices got a boost from the ruling. WTI immediately climbed past US$62 a barrel, Brent crude also cruised above US$65. That mix of bullish tech and tariff relief also spilled over to ASX data centre stocks this morning. Megaport (ASX:MP1) and DigiCo Infrastructure REIT (ASX:DGT) climbed 2%, and NextDC (ASX:NXT) followed suit, up 1%. In large cap news, Champion Iron (ASX:CIA) flexed its muscle, rising 2.1% after posting a 44% jump in quarterly earnings. The EBITDA print of C$127.4m was 50% higher YoY and backed a 10 Canadian cents per share semi-annual dividend. Woodside Energy Group (ASX:WDS) kept climbing, up another 3% after the Albanese government signed off on extending the life of its North West Shelf gas project to 2070. Two strong sessions in a row for the energy giant. On the downside, Elders (ASX:ELD) slipped 1% after the ACCC flagged its $475 million play for Delta Agribusiness could crimp competition in rural supply chains. And ... Resolute Mining (ASX:RSG) got smacked 2% after it said it was chasing clarification from the Guinean government amid reports that some of its permits might be in jeopardy. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for May 29 : Security Description Last % Volume MktCap EDE Eden Inv Ltd 0.003 150% 80,138,982 $4,109,881 TM1 Terra Metals Limited 0.037 42% 8,643,506 $10,793,512 IVX Invion Ltd 0.115 35% 963,243 $7,201,936 MTB Mount Burgess Mining 0.004 33% 1,000,000 $1,055,108 OB1 Orbminco Limited 0.002 33% 5,000,000 $3,596,352 TEM Tempest Minerals 0.004 33% 228,000 $2,203,590 RMI Resource Mining Corp 0.030 30% 6,006,280 $15,304,332 EDU EDU Holdings Limited 0.260 30% 1,017,540 $30,110,682 TMG Trigg Minerals Ltd 0.088 28% 41,222,053 $63,747,023 RCL Readcloud 0.140 27% 112,860 $16,898,174 ENL Enlitic Inc. 0.030 25% 268,231 $17,313,813 BP8 Bph Global Ltd 0.003 25% 336,421 $2,101,969 RDS Redstone Resources 0.005 25% 2,118,012 $3,701,514 ROG Red Sky Energy. 0.005 25% 6,167,424 $21,688,909 COB Cobalt Blue Ltd 0.068 23% 2,240,911 $24,688,556 VPRDB Voltgroupltd 0.120 20% 15,266 $16,074,312 EM2 Eagle Mountain 0.006 20% 19,843 $5,675,186 TEG Triangle Energy Ltd 0.003 20% 2,465,660 $5,223,085 AKN Auking Mining Ltd 0.007 17% 2,370,782 $3,448,673 AX8 Accelerate Resources 0.007 17% 1,559,649 $4,783,132 LSR Lodestar Minerals 0.007 17% 357,142 $1,910,543 TMS Tennant Minerals Ltd 0.007 17% 200,000 $5,735,342 PLC Premier1 Lithium Ltd 0.011 16% 228,638 $3,496,576 RPG Raptis Group Limited 0.030 15% 250,000 $4,558,903 PTR Petratherm Ltd 0.310 15% 1,339,332 $93,315,988 Eden Innovations (ASX:EDE) has captured momentum with its EdenCrete Pz7 concrete additive, a product that makes standard concrete mixes stronger. Over the past three months, sales topped US$567k. In April and May alone, sales were 86% higher than the same quarter last year. Holcim US also ordered US$91k worth of Pz7 for a 22-storey high-rise in Denver, Eden's first major commercial project. Invion (ASX:IVX) just got the thumbs-up from the safety committee after treating the first six patients in its skin cancer trial. There are early signs the drug is shrinking tumours after one dose. INV043 also makes cancer cells glow under violet light, hinting it could double as a diagnostic tool. Invion is now gearing up for a second study with Peter Mac, combining the treatment with immunotherapy. Trigg Minerals (ASX:TMG) has kicked off its first exploration campaign at Antimony Canyon in Utah, a site with a rich mining history but no modern exploration. The team is targeting old antimony mines and scouting spots for a potential smelter as part of its push to become a US-based supplier of critical minerals. Trigg said it's in talks with US agencies about federal funding. Almond grower Select Harvests (ASX:SHV) is back in profit territory, swinging from a $2.4 million loss to a $28.7 million net profit in the half. Earnings more than tripled to $60.7 million. Debt came down, cash flow turned positive, and the company reckons demand's still strong. No interim dividend this time, but the crop's clearly ripening. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for May 29 : Code Name Price % Change Volume Market Cap MOM Moab Minerals Ltd 0.001 -33% 500,000 $2,600,499 RLL Rapid Lithium Ltd 0.002 -33% 147,966 $3,734,834 CTQ Careteq Limited 0.009 -31% 1,344,453 $3,082,543 GMN Gold Mountain Ltd 0.002 -25% 239,339 $10,267,776 MGU Magnum Mining & Exp 0.007 -22% 100,000 $10,094,858 NPM Newpeak Metals 0.011 -21% 317,020 $4,509,004 TGH Terragen 0.024 -20% 415,001 $15,150,515 AAU Antilles Gold Ltd 0.004 -20% 177,945 $10,631,838 AQX Alice Queen Ltd 0.004 -20% 12,800,280 $5,734,450 BYH Bryah Resources Ltd 0.004 -20% 598,062 $4,349,768 CR9 Corellares 0.002 -20% 1,500 $2,514,016 ERA Energy Resources 0.002 -20% 1,273,540 $1,013,490,602 JAV Javelin Minerals Ltd 0.002 -20% 97,024,174 $15,115,373 PRX Prodigy Gold NL 0.002 -20% 13,334 $7,937,639 SHP South Harz Potash 0.004 -20% 41,501 $5,513,644 OLL Openlearning 0.015 -17% 99,553 $8,688,144 EPM Eclipse Metals 0.005 -17% 1,100,000 $17,194,914 GLL Galilee Energy Ltd 0.005 -17% 7,500 $4,243,157 LU7 Lithium Universe Ltd 0.005 -17% 302,360 $4,715,878 NES Nelson Resources. 0.003 -17% 80,000 $6,515,783 OVT Ovanti Limited 0.003 -17% 1,956,528 $8,380,545 RC1 Redcastle Resources 0.005 -17% 2,856,728 $4,461,401 CDE Codeifai Limited 0.006 -14% 262,000 $2,282,222 EMT Emetals Limited 0.003 -14% 1,849,999 $2,975,000 FGH Foresta Group 0.006 -14% 6,741,238 $18,570,345 IN CASE YOU MISSED IT An independent study comparing Altech Batteries (ASX:ATC) CERENERGY technology to alternatives including lithium-ion, sodium-sulphur and vanadium flow batteries has revealed several areas of superior performance. The sodium chloride solid state batteries developed by ATC offer comparative energy efficiencies to lithium-ion batteries, exceeding the other two chemistries, and matches or exceeds its rivals in overall lifetime, cycle life, safety, temperature range, and discharge duration. At Stockhead, we tell it like it is. While Altech Batteries is a Stockhead advertiser, it did not sponsor this article.
Sky News AU
09-05-2025
- Business
- Sky News AU
ASX 200 edges up after United States, United Kingdom strike 'historic' trade deal
Aussie investors have remained uninspired by a 'historic' trade deal between the United States and the United Kingdom, with the ASX 200 opening flat on Friday. The market see-sawed with aluminium producer Alcoa Corporation rising 3.2 per cent, Liontown Resources up 3.7 per cent and Champion Iron adding 2.4 per cent. Gaming manufacturer Light & Wonder sank 3.8 per cent on Friday, while Westgold Resources dropped 2.7 per cent and Vault Minerals fell 3.1 per cent. It came after UK and US officials confirmed a 'breakthrough' trade deal which will lower or scrap tariffs. While the baseline 10 per cent tariff that Trump revealed on "Liberation Day" still applies to British exports, UK steel and aluminium will no longer face the additional 25 per cent levy and the automotive tariff will be reduced to 10 per cent under the newly announced deal. UK Prime Minister Keir Starmer said it was a 'fantastic, historic day' as Donald Trump also lauded the deal and said there were more on the horizon as negotiations continued. "Because of our long time history and allegiance together, it is a great honour to have the United Kingdom as our FIRST announcement," Trump posted on Truth Social. "Many other deals, which are in serious stages of negotiation, to follow!" The US will begin trade discussions with China in Switzerland this week where global leaders will look to minimise the whopping tariffs either superpower has on one another. Wall Street surged on Thursday with the tech-heavy Nasdaq up 1.1 per cent and the S&P 500 and the Dow Jones both rising 0.6 per cent. London's FTSE 100 sank 0.3 per cent, Germany's DAX rose one per cent and the EURO STOXX finished up 1.1 per cent on Thursday. New Zealand's NZX 50 Index is up 0.7 per cent since the market opened on Friday while Japan's Nikkei 225 is up 1.2 per cent.
Business Insider
08-05-2025
- Business
- Business Insider
RBC Capital Keeps Their Buy Rating on Champion Iron (CIA)
RBC Capital analyst Sam Crittenden maintained a Buy rating on Champion Iron (CIA – Research Report) yesterday and set a price target of C$8.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Crittenden covers the Basic Materials sector, focusing on stocks such as Teck Resources, Ivanhoe Mines, and Capstone Copper. According to TipRanks, Crittenden has an average return of 16.4% and a 54.25% success rate on recommended stocks. In a report released on May 1, Citi also maintained a Buy rating on the stock with a A$7.30 price target. The company has a one-year high of C$7.11 and a one-year low of C$3.29. Currently, Champion Iron has an average volume of 420.5K. Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CIA in relation to earlier this year.
