** Shares of Champion Iron CIA.AX rise as much as 5.9% to A$4.5, marking their biggest intraday pct gain since May 13
** Stock hits highest level since May 22
** Explorer and developer co posts 52% rise in Q4 net income to C$39.1 mln ($28.24 mln)
** Says gross average realised selling price was C$160.4 per dry metric ton (dmt), down from C$166.3/dmt
** Citi says realised pricing continues to disappoint and that there will be lag during the direct reduction pellet feed (DRPF) ramp-up period until DRPF premiums are realised
** Stock down 24% YTD
($1 = 1.3848 Canadian dollars)
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.kumar@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.