Short Interest in Champion Iron Limited (OTCMKTS:CIAFF) Declines By 61.3%

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. BMO Capital Markets downgraded shares of Champion Iron to a “market perform” rating in a research report on Monday, June 8th. Scotiabank reiterated 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 given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Champion Iron Stock Performance

OTCMKTS CIAFF opened at $2.48 on Friday. Champion Iron has a one year low of $2.33 and a one year high of $4.78. The firm’s fifty day moving average is $2.73 and its two-hundred day moving average is $3.32.

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.