RBC Upgrade in the Globe * Champion Iron Ltd. (
) to $7 from $6. Average: $6.65.
“Champion Iron announced the approval of its Phase 2 expansion in Q4/20,” he said. “We think the shares should rerate as the project is developed and de-risked. At current spot prices Champion is generating strong FCF to help fund development and putting the company in a position to be able to start returning capital to shareholders following the ramp-up of Phase 2.”