Labrador Iron Ore Royalty (TSE:LIF) Stock Passes Above 200-Day Moving Average – Should You Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF) shares passed 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 traded.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their target price 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, Labrador Iron Ore Royalty currently has a consensus rating of “Hold” and a consensus price target of C$33.00.

Labrador Iron Ore Royalty Stock Up 0.3%

The firm’s 50 day simple moving average is C$30.44 and its 200 day simple moving average is C$29.12. The company has a market capitalization 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.

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. 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.