Labrador Iron Ore Royalty (TSE:LIF) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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 lowered their target price on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a report on Wednesday, November 6th.

Labrador Iron Ore Royalty Stock Up 1.2 %

The company has a market capitalization of C$1.91 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The company has a 50 day simple moving average of C$29.62 and a 200 day simple moving average of C$30.27.

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.