Labrador Iron Ore Royalty (TSE:LIF) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Labrador Iron Ore Royalty Co. (TSE:LIF) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$29.28 and traded as high as C$31.06. Labrador Iron Ore Royalty shares last traded at C$31.02, with a volume of 131,152 shares.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their target price on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$33.00.

Labrador Iron Ore Royalty Price Performance

The stock has a market cap of C$1.99 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.32. The business has a 50 day moving average price of C$30.54 and a two-hundred day moving average price of C$29.28.

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. Directly and through its wholly-owned subsidiary, Hollinger-Hanna, LIORC owns an equity interest in IOC and receives gross overriding royalty on all iron ore products produced from the leased lands that are sold and shipped by IOC and commission on IOC’s sales of iron ore.