Champion Iron (OTCMKTS:CIAFF) Trading 3.5% Higher – Still a Buy?

Shares of Champion Iron Limited (OTCMKTS:CIAFF) were up 3.5% on Wednesday . The company traded as high as $4.51 and last traded at $4.39. Approximately 28,103 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 123,854 shares. The stock had previously closed at $4.24.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CIAFF. Desjardins reissued a “buy” rating on shares of Champion Iron in a report on Monday, January 5th. Scotiabank reiterated an “outperform” rating on shares of Champion Iron in a research report on Friday, October 31st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Champion Iron Price Performance

The business has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $3.38.

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.