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 traded.

Analyst Ratings Changes

Separately, Scotiabank cut their target price 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 Performance

The company has a market capitalization of C$1.86 billion, a PE ratio of 8.78, a P/E/G ratio of 0.94 and a beta of 1.10. The stock has a 50 day moving average price of C$30.17 and a two-hundred day moving average price of C$30.25.

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.