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

Labrador Iron Ore Royalty Co. (TSE:LIF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$30.36 and traded as high as C$30.77. Labrador Iron Ore Royalty shares last traded at C$30.69, with a volume of 263,250 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price objective on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a report on Wednesday, November 6th.

Labrador Iron Ore Royalty Price Performance

The stock has a market capitalization of C$1.96 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The firm has a fifty day moving average of C$30.03 and a 200 day moving average of C$30.36.

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.