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

Champion Iron Limited (OTCMKTS:CIAFF)’s stock price traded up 3.5% during trading on Wednesday . The company traded as high as $4.51 and last traded at $4.39. 28,103 shares traded hands during trading, a decline of 77% from the average session volume of 123,854 shares. The stock had previously closed at $4.24.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CIAFF shares. 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Champion Iron Stock Performance

The business’s 50 day simple moving average is $3.96 and its 200-day simple moving average is $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.