Labrador Iron Ore Royalty (TSE:LIF) Share Price Passes Below 200-Day Moving Average – Here’s Why

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.25 and traded as low as C$28.67. Labrador Iron Ore Royalty shares last traded at C$29.14, with a volume of 193,848 shares.

Analyst Upgrades and Downgrades

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

Labrador Iron Ore Royalty Price Performance

The stock has a market capitalization of C$1.86 billion, a P/E ratio of 8.78, a PEG ratio of 0.94 and a beta of 1.10. The stock’s 50-day simple moving average is C$30.17 and its 200 day simple moving average is C$30.25.

About Labrador Iron Ore Royalty

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.