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

Champion Iron Limited (OTCMKTS:CIAFF) was up 0.4% during mid-day trading on Friday . The stock traded as high as $2.56 and last traded at $2.50. 57,374 shares changed hands 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

Several research firms have weighed in on CIAFF. BMO Capital Markets downgraded shares of Champion Iron to a “market perform” rating in a research note on Monday, June 8th. Scotiabank reissued an “outperform” rating on shares of Champion Iron in a research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Champion Iron Trading Up 0.4%

The firm’s 50-day moving average price is $2.63 and its 200 day moving average price is $3.15.

Champion Iron Company Profile

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.