Labrador Iron Ore Royalty (TSE:LIF) Shares Cross Below 200 Day Moving Average – Should You Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$30.42 and traded as low as C$28.88. Labrador Iron Ore Royalty shares last traded at C$29.42, with a volume of 450,944 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on LIF. TD Securities downgraded shares of Labrador Iron Ore Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 13th. Royal Bank of Canada decreased their target price on shares of Labrador Iron Ore Royalty from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th.

Labrador Iron Ore Royalty Price Performance

The company has a 50 day moving average price of C$30.35 and a 200 day moving average price of C$30.42. The firm has a market cap of C$1.89 billion, a PE ratio of 9.64, a PEG ratio of 0.94 and a beta of 1.10.

About Labrador Iron Ore Royalty

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.