Champion Iron Limited (OTCMKTS:CIAFF) Short Interest Update

Champion Iron Limited (OTCMKTS:CIAFF) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 5,495,544 shares, a drop of 61.3% from the July 15th total of 14,199,155 shares. Based on an average daily trading volume, of 247,598 shares, the days-to-cover ratio is currently 22.2 days.

Wall Street Analysts Forecast Growth

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

Champion Iron Stock Performance

CIAFF traded down $0.04 during trading on Friday, hitting $2.44. 119,823 shares of the company’s stock were exchanged, compared to its average volume of 74,805. The business’s 50 day moving average is $2.72 and its two-hundred day moving average is $3.31. Champion Iron has a fifty-two week low of $2.33 and a fifty-two week high of $4.78.

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.