Labrador Iron Ore Royalty (TSE:LIF) Shares Cross Above 200 Day Moving Average – What’s Next?

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$30.36 and traded as high as C$30.95. Labrador Iron Ore Royalty shares last traded at C$30.84, with a volume of 108,001 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered 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 Stock Performance

The company’s 50 day moving average price is C$30.13 and its 200-day moving average price is C$30.37. The company has a market cap of C$1.98 billion, a price-to-earnings ratio of 10.09, a PEG 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.