Champion Iron (OTCMKTS:CIAFF) Trading Up 0.4% – Still a Buy?

Shares of Champion Iron Limited (OTCMKTS:CIAFF) were up 0.4% on Friday . The stock traded as high as $2.56 and last traded at $2.50. 57,374 shares were traded during trading, a decline of 22% from the average daily volume of 73,950 shares. The stock had previously closed at $2.49.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BMO Capital Markets downgraded Champion Iron to a “market perform” rating in a report on Monday, June 8th. Scotiabank reaffirmed an “outperform” rating on shares of Champion Iron in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Champion Iron Trading Up 0.4%

The business has a fifty day simple moving average of $2.63 and a 200 day simple moving average of $3.15.

About Champion Iron

Champion Iron (OTCMKTS:CIAFF) is a Canadian mining company focused on the production and sale of high-grade iron ore concentrate. The company’s core asset is the Bloom Lake Mine, located in the Labrador Trough region of Quebec. Champion Iron operates an integrated mine, processing plant and rail infrastructure to produce a premium magnetite concentrate that serves as a key raw material for steelmakers worldwide.

Since acquiring the Bloom Lake Mine in 2017, Champion Iron has invested in optimizing its processing facilities and expanding its pellet feed production capacity.