Scully Royalty Ltd. (NYSE:SRL – Get Free Report)’s share price crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $5.49 and traded as low as $4.82. Scully Royalty shares last traded at $4.8250, with a volume of 2,145 shares.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Scully Royalty in a report on Friday, September 11th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has an average rating of “Sell”.
Check Out Our Latest Research Report on Scully Royalty
Scully Royalty Stock Performance
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Scully Royalty stock. Renaissance Technologies LLC boosted its stake in shares of Scully Royalty Ltd. (NYSE:SRL – Free Report) by 41.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,114 shares of the financial services provider’s stock after purchasing an additional 19,800 shares during the period. Renaissance Technologies LLC owned about 0.46% of Scully Royalty worth $533,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 41.96% of the company’s stock.
Scully Royalty Company Profile
Scully Royalty Ltd. is a royalty company focused on iron ore production in Labrador, Canada. Its principal asset is a royalty interest associated with the Scully Mine near Wabush in Newfoundland and Labrador, an open-pit operation producing iron ore products for the steel industry.
The mine is operated by Tacora Resources Inc, while Scully Royalty receives royalty and related payments tied to the mine’s production and sales. This structure gives Scully Royalty exposure to iron ore operations without directly managing mining, processing, transportation, or marketing activities.
The Scully Mine has a long operating history in the Labrador Trough, one of Canada’s major iron ore-producing regions.
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