CHAMPION IRON LIMITED (CIA)
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CIA - CHAMPION IRON LIMITED

FNArena Sector : Iron Ore

Year End: March

GICS Industry Group : Materials

Debt/EBITDA: 2.1

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
$4.25 08 Jun 2026	0.000 OPEN $4.25	0.000 HIGH $4.25	0 LOW $4.25

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$4.25

08 Jun
2026

0.000

OPEN

$4.25

0.000

HIGH

$4.25

LOW

$4.25

TARGET

$5.725

34.7% upside

OTHER COMPANIES IN THE SAME SECTOR
ARI . DRR . FEX . FMG . GEN . GRR . MGX . MIN .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY27 Forecast	FY28 Forecast
EPS (cps)	51.9	xxx
DPS (cps)	20.4	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	7.8	xxx
Dividend Yield	5.0%	xxx
Div Pay Ratio(%)	39.2%	xxx

Title	FY27 Forecast	FY28 Forecast
EPS (cps)	49.3	xxx
DPS (cps)	19.3	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	8.3	xxx
Dividend Yield	4.8%	xxx
Div Pay Ratio(%)	39.2%	xxx

Title	FY25 Actual	FY26 Actual	FY27 Forecast	FY28 Forecast
EPS (cps)	xxx	N/A	48.5	xxx
DPS (cps)	xxx	N/A	19.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	39.2%	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: N/A

Last ex-div: 11/11 - (franking ex-div 10c)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2026 FactSet UK Limited. All rights reserved

Title	2021	2022	2023	2024	2025	2026
EPS Basic	xxx	xxx	xxx	xxx	xxx	34.8
DPS All	xxx	xxx	xxx	xxx	xxx	13.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	1,938.1 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	301.0
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	477.4 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	9.53 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2021	2022	2023	2024	2025	2026
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	11.53 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	7.25 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	5.12 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	11.53 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	13.06 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-72.4 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	2021	2022	2023	2024	2025	2026
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	68 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	1,063 M
Total Debt	xxx	xxx	xxx	xxx	xxx	1,130 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	311 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	1.75

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2021	2022	2023	2024	2025	2026
Capex	xxx	xxx	xxx	xxx	xxx	453.2 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	23.39 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	1,503 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	93 M
Research & Development	xxx	xxx	xxx	xxx	xxx	11 M
Investments - Total	xxx	xxx	xxx	xxx	xxx	110 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

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Sentiment Indicator

0.5

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Bell Potter	xx/xx/xxxx	3	xxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Macquarie	30/03/2026	1	Upgrade to Outperform from Neutral	$6.60	55.29%	Macquarie has raised its 2026 commodity price forecasts, with the largest increases for thermal coal up 29%, aluminium up 26%, metallurgical coal up 15%, gold up 7%, iron ore up 6% and copper up 3%. In the near term, the broker is overweight thermal coal, aluminium, metallurgical coal and nickel relative to consensus, while remaining even-weight on copper, iron ore, zinc, lithium, gold, silver and manganese. Alumina is the only commodity where Macquarie is underweight. The broker’s Australian dollar forecast is around 6% stronger than consensus. While higher prices support earnings, higher FX and fuel costs offset some of the benefit, the analyst explains. The target for Champion Iron rises to $6.60 from $6.25 and the rating is upgraded to Outperform from Neutral. This is a summary of research produced by Macquarie on March 27. FORECAST Macquarie forecasts a full year FY27 dividend of 20.37 cents and EPS of 51.46 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Bell Potter

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

30/03/2026

Upgrade to Outperform from Neutral

$6.60

55.29%

Macquarie has raised its 2026 commodity price forecasts, with the largest increases for thermal coal up 29%, aluminium up 26%, metallurgical coal up 15%, gold up 7%, iron ore up 6% and copper up 3%.

In the near term, the broker is overweight thermal coal, aluminium, metallurgical coal and nickel relative to consensus, while remaining even-weight on copper, iron ore, zinc, lithium, gold, silver and manganese.

Alumina is the only commodity where Macquarie is underweight.

The broker’s Australian dollar forecast is around 6% stronger than consensus. While higher prices support earnings, higher FX and fuel costs offset some of the benefit, the analyst explains.

The target for Champion Iron rises to $6.60 from $6.25 and the rating is upgraded to Outperform from Neutral.

This is a summary of research produced by Macquarie on March 27.

FORECAST
Macquarie forecasts a full year FY27 dividend of 20.37 cents and EPS of 51.46 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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	01/06/2026	3	Downgrade to Neutral from Overweight	$5.00	17.65%	Jarden downgrades Champion Iron to a Neutral rating with its target price reduced to $5.00 following a lower-than-expected dividend outcome and apparent deteriorating business conditions. A revised distribution framework based on trailing free cash flow metrics has been introduced to preserve liquidity amid rising operational costs. Unit operating costs increased during the final quarter due to higher fuel and land transport dynamics, with seaborne freight inflation providing a further drag on earnings. Imminent sales of high-grade product from the direct reduction pellet feed expansion project will begin in the upcoming quarter. Forward EBITDA projections are lowered by -20% for FY27, though the underlying strategy of increasing premium iron ore product exposure remains intact, the broker highlights. FORECAST Jarden forecasts a full year FY27 dividend of 16.08 cents and EPS of 21.76 cents. Jarden forecasts a full year FY28 dividend of 15.01 cents and EPS of 27.12 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

01/06/2026

Downgrade to Neutral from Overweight

$5.00

17.65%

Jarden downgrades Champion Iron to a Neutral rating with its target price reduced to $5.00 following a lower-than-expected dividend outcome and apparent deteriorating business conditions.

A revised distribution framework based on trailing free cash flow metrics has been introduced to preserve liquidity amid rising operational costs.

Unit operating costs increased during the final quarter due to higher fuel and land transport dynamics, with seaborne freight inflation providing a further drag on earnings.

Imminent sales of high-grade product from the direct reduction pellet feed expansion project will begin in the upcoming quarter.

Forward EBITDA projections are lowered by -20% for FY27, though the underlying strategy of increasing premium iron ore product exposure remains intact, the broker highlights.

FORECAST
Jarden forecasts a full year FY27 dividend of 16.08 cents and EPS of 21.76 cents.
Jarden forecasts a full year FY28 dividend of 15.01 cents and EPS of 27.12 cents.

Access Extra Coverage Research History >

CIA STOCK CHART

FNArena News on CIA

1	In Case You Missed It – BC Extra Upgrades & Downgrades – 05-06-26 Jun 05 2026 - Weekly Reports

2	Rudi’s View: Tech Is Back (Ahead Of Tax Loss Selling) Jun 03 2026 - Rudi's View

3	FNArena Corporate Results Monitor – 01-06-2026 Jun 01 2026 - Australia

4	Australian Broker Call Extra Edition – Jun 01, 2026 Jun 01 2026 - Daily Market Reports

5	Australian Broker Call Extra Edition – Apr 13, 2026 Apr 13 2026 - Daily Market Reports

Latest Iron Ore News

1	Breakout Opportunity In Mineral Resources Apr 14 2026 - Technicals

2	Fortescue Shares Finding Technical Support Nov 18 2025 - Technicals

3	Risk Has Shifted To More Upside For MinRes Oct 16 2025 - Technicals

4	Mineral Resources Shares Targeting $45 Sep 10 2025 - Technicals

5	Can Champion Iron Deliver On Growth Projects? Aug 06 2025 - Commodities

6	Execution Remains Key For Mineral Resources Aug 01 2025 - Commodities

7	Iron Ore Worries Overshadow Fortescue’s FY26 Jul 28 2025 - Australia

8	Bargain Hunters Interest For Champion Iron? May 08 2025 - Technicals

9	Positive Reversal For Fortescue May 06 2025 - Technicals

10	Fortescue: Quo Vadis The Dividend? Feb 24 2025 - Commodities

Dividend Yield Today On Last Actual Payout :	N/A
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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	Yield	Yield on investment
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CHAMPION IRON LIMITED (CIA)
Share Price Analysis and Chart