BUZZ-Citi forecasts a tough Q4 for Australia's Champion Iron

Reuters04-05

** Analysts at Citi cuts target price for Champion Iron

to A$8.60 from A$9.60; maintains "buy" rating

** Citi sees tough Q4-FY24 for the iorn ore explorer and downgrades Q4 EBITDA estimate to C$57.3 mln ($42.15 mln) vs C$246.6 mln in Q3

** Brokerage says winter effects, increased maintenance downtime and constrained rail capacity will be evident in Q4, sees iron ore concentrate production of 3.7 mln wet metric ton (wmt) vs 4.04 mln wmt in Q3

** Brokerage expects Q4 iron ore concentrate sales of 3.07 mln dry metric ton (dmt) vs 3.2 mln dmt in Q3

** Five of six analysts rate the stock "buy" or higher and one "hold"; their median PT is A$7.89 – LSEG data

** Stock has fallen 14.9% YTD, as of last close

($1 = 1.3522 Canadian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))

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