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

Labrador Iron Ore Royalty Co. (TSE:LIF)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$30.42 and traded as low as C$28.88. Labrador Iron Ore Royalty shares last traded at C$29.42, with a volume of 450,944 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Securities downgraded Labrador Iron Ore Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 13th. Royal Bank of Canada lowered their price target on shares of Labrador Iron Ore Royalty from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th.

Labrador Iron Ore Royalty Trading Down 1.9 %

The company has a market cap of C$1.89 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The stock has a 50-day simple moving average of C$30.34 and a 200-day simple moving average of C$30.42.

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.