Labrador Iron Ore Royalty (TSE:LIF) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Labrador Iron Ore Royalty Co. (TSE:LIF) shares 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 changing hands.

Wall Street Analysts Forecast Growth

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

Labrador Iron Ore Royalty Price Performance

The firm has a 50-day moving average price of C$30.17 and a two-hundred day moving average price of C$30.25. The company has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 8.78, 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.