Labrador Iron Ore Royalty (TSE:LIF) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Labrador Iron Ore Royalty Co. (TSE:LIF) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$30.27 and traded as low as C$29.91. Labrador Iron Ore Royalty shares last traded at C$30.10, with a volume of 265,203 shares changing hands.

Wall Street Analyst Weigh In

Separately, Scotiabank decreased their target price 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 Performance

The stock’s 50-day moving average is C$30.47 and its 200 day moving average is C$30.26. The stock has a market capitalization of C$1.90 billion, a PE ratio of 8.96, a P/E/G ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets; iron ore concentrate; and seaborne iron ore pellets.