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) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$30.33 and traded as high as C$30.98. Labrador Iron Ore Royalty shares last traded at C$30.84, with a volume of 329,301 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price objective 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 Up 1.4 %

The company has a fifty day moving average of C$29.89 and a 200 day moving average of C$30.33. The company has a market cap of C$1.97 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$0.53 earnings per share (EPS) for the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, research analysts forecast that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current year.

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.