The Globe and Mail reports in its Wednesday edition that according to Scotia Capital analyst Orest Wowkodaw, miners are likely to experience a significant decline in their financial results for the first quarter of 2024. The Globe's David Leeder writes that this is expected to occur on both a quarter-over-quarter and year-over-year basis. Despite the fact that commodity prices are slightly improving, analysts believe that a weaker seasonal operating performance will more than offset any benefits. Mr. Wowkodaw says in a note: "Our estimates appear below current consensus expectations for most companies. ... We do not anticipate any material guidance changes this quarter. We expect only a few company-specific catalysts with no improvements to shareholder returns. With the large and mid-cap producers currently trading at an elevated estimated average implied Cu [copper] price of $5.55 per pound, it remains unclear if significantly improved investor sentiment will look through a potentially disappointing Q1 reporting season." Mr. Wowkodaw has reaffirmed his "sector perform" recommendation for Champion Iron. Mr. Wowkodaw trimmed his share target by 50 cents to $7. Analysts on average target the shares at $8.35.