Labrador Iron Ore Royalty (OTCMKTS:LIFZF) Shares Up 2.9% – Here’s Why

Shares of Labrador Iron Ore Royalty Co. (OTCMKTS:LIFZF) shot up 2.9% during trading on Friday . The company traded as high as $22.63 and last traded at $22.63. 31,870 shares were traded during mid-day trading, an increase of 143% from the average session volume of 13,120 shares. The stock had previously closed at $22.00.

Labrador Iron Ore Royalty Stock Performance

The firm has a 50 day moving average price of $22.19 and a two-hundred day moving average price of $20.97.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Limited (OTCMKTS:LIFZF) is a Canadian mineral royalty company headquartered in St. John’s, Newfoundland and Labrador. Established in 1965 under a strategic agreement with the Iron Ore Company of Canada (IOC), the company holds a 7.7% gross royalty on iron ore concentrate production from IOC’s operations in the Labrador Trough. This long-term royalty interest provides a steady, passive revenue stream tied to iron ore prices and production levels at one of North America’s largest iron ore facilities.

In addition to its core royalty business, Labrador Iron Ore Royalty maintains an exploration portfolio of iron ore properties within the Labrador Trough.