My opinion: It’s fair valued. The price of CIA pulled back, looks like it’s just reflecting the change in iron ore futures, which is just about flat since the beginning of January. The price didn’t break previous low of $4.8, so overall it’s still trending upwards. According to recent world news, some Asian vehicle producers just transferred steel/rubber price increases to retailers last week, some of them haven’t been placing large purchasing orders due to interruptions of production from the pandemic and/or chip shortages. I think it’s logical to assume iron/steel demand will increase as productions resume.

Not my opinion: average analyst price target currently sits at $5.89 after two new higher ratings came out last Thursday. I sold half of my position last week at $5.70, the previous average target. I will be looking at buying back some if/when the price falls below my average purchasing price.