Labrador Iron Ore Royalty (TSE:LIF) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Labrador Iron Ore Royalty Co. (TSE:LIF) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$29.81 and traded as high as C$29.89. Labrador Iron Ore Royalty shares last traded at C$29.70, with a volume of 350,977 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LIF. Royal Bank of Canada dropped their price target on shares of Labrador Iron Ore Royalty from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. TD Securities cut shares of Labrador Iron Ore Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 13th.

Labrador Iron Ore Royalty Stock Up 1.0 %

The firm has a market capitalization of C$1.91 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The business’s fifty day moving average is C$29.10 and its 200 day moving average is C$29.81.

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.