Labrador Iron Ore Royalty (TSE:LIF) Stock Passes Above 200 Day Moving Average – Time to Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$29.12 and traded as high as C$31.46. Labrador Iron Ore Royalty shares last traded at C$31.35, with a volume of 184,992 shares changing hands.

Analyst Upgrades and Downgrades

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

Labrador Iron Ore Royalty Stock Performance

The stock has a market cap of C$2.01 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.94 and a beta of 0.32. The firm has a fifty day moving average price of C$30.44 and a 200 day moving average price of C$29.12.

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.