Labrador Iron Ore Royalty (TSE:LIF) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Labrador Iron Ore Royalty Co. (TSE:LIF) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$30.27 and traded as low as C$29.61. Labrador Iron Ore Royalty shares last traded at C$29.73, with a volume of 276,130 shares.

Wall Street Analyst Weigh In

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

Labrador Iron Ore Royalty Stock Up 1.2 %

The firm’s fifty day simple moving average is C$29.62 and its 200-day simple moving average is C$30.27. The company has a market cap of C$1.91 billion, a PE ratio of 8.99, a P/E/G ratio of 0.94 and a beta of 1.10.

About Labrador Iron Ore Royalty

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.