Labrador Iron Ore Royalty (TSE:LIF) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Labrador Iron Ore Royalty Co. (TSE:LIF)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.26 and traded as high as C$30.88. Labrador Iron Ore Royalty shares last traded at C$30.60, with a volume of 240,849 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank dropped their price target on Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research note on Wednesday, November 6th.

Labrador Iron Ore Royalty Stock Performance

The business has a 50 day moving average of C$29.56 and a two-hundred day moving average of C$30.27. The firm has a market capitalization of C$1.96 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Corporation is a Canadian corporation. The company generates all of its revenue from its equity investment in Iron Ore Company of Canada, (IOC) and its IOC royalty and commission interests. IOC operates a major iron mine near Labrador City, Newfoundland, and Labrador on lands leased from LIORC.