The Globe and Mail reports in its Wednesday, June 10, edition that Scotia Capital analyst Orest Wowkodaw has elevated his share target for Champion Iron ($2.75) to $4 from $2.75. The Globe's David Leeder writes in the Eye On Equities column that Mr. Wowkodaw is holding firm on his "sector outperform" rating. Analysts on average target the shares at $3.23.
Mr. Wowkodaw says he based his rating "on Bloom Lake's high-grade and premium concentrate, strong margins, capital efficient near-term growth, and attractive valuation." The Globe reported Laurentian Bank of Canada's call to buy Champion on June 12, 2018, when it was worth $2.74. The Globe's Tim Shufelt reported on July 25, 2019, that 10 analysts were following Champion and all recommended buying it. Mr. Shufelt said Champion was a cult stock with a devoted following. In the item, AGF Investments portfolio manager Peter Imhof said, "The stock now is a bit of a market darling." Champion shares could then be had for $2.68. The Globe reported on Feb. 19, 2020, that RBC Dominion Securities analyst Alexander Jackson rated Champion "outperform" in new coverage. The shares of Champion could then be had for $2.
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