Labrador Iron Ore Royalty (TSE:LIF) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$29.28 and traded as high as C$31.06. Labrador Iron Ore Royalty shares last traded at C$31.02, with a volume of 131,152 shares changing hands.

Wall Street Analyst Weigh In

Separately, Scotiabank upped their price target on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$33.00.

Labrador Iron Ore Royalty Price Performance

The stock has a market cap of C$1.94 billion, a P/E ratio of 17.75, a PEG ratio of 0.94 and a beta of 0.33. The stock has a 50-day simple moving average of C$30.54 and a 200-day simple moving average of C$29.31.

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. Directly and through its wholly-owned subsidiary, Hollinger-Hanna, LIORC owns an equity interest in IOC and receives gross overriding royalty on all iron ore products produced from the leased lands that are sold and shipped by IOC and commission on IOC’s sales of iron ore.