Labrador Iron Ore Royalty (TSE:LIF) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.25 and traded as low as C$28.67. Labrador Iron Ore Royalty shares last traded at C$29.14, with a volume of 193,848 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank dropped their price target on shares of 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 1.1 %

The business’s 50 day simple moving average is C$30.17 and its 200 day simple moving average is C$30.25. The company has a market capitalization of C$1.86 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10.

About Labrador Iron Ore Royalty

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.