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Champion Iron Ltd (CIA) $6.45

CIA has recovered in tandem with the volatile iron ore price, we took advantage of the recovery in the bulk commodity through Fortescue Metals (FMG), after CIA’s more than 50% bounce we believe the easy money is now off the table although its should benefit if MM is correct with our view towards the $US. So far 2022 has illustrated perfectly that the crowd is often very wrong with oil and iron ore stocks outperforming the ASX, we can see 2022 being relatively choppy on the sector front where “buy & hold” is likely to prove an average strategy.

MM is neutral to slightly bullish FMG
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Champion Iron Ltd (CIA)
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