Labrador Iron Ore Royalty (TSE:LIF) Shares Pass Above 50 Day Moving Average - Should You Sell?

Key Points

• Shares crossed above the 50-day moving average during Wednesday trading (50-day MA C$29.72), trading as high as C$30.09 but last at C$29.67 on volume of 187,880 shares.
• Analysts' consensus is a Hold with an average price target of C$29.50, as Scotiabank raised its target to C$30 while TD Securities trimmed theirs to C$29 and kept a hold rating.
• Labrador Iron Ore Royalty has a market cap of C$1.90 billion with a P/E of 18.9 and PEG of 0.94, and reported solid profitability last quarter (EPS C$0.35, net margin 60.64%, revenue C$39.46M).

Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$29.72 and traded as high as C$30.09. Labrador Iron Ore Royalty shares last traded at C$29.67, with a volume of 187,880 shares.

Analyst Upgrades and Downgrades

LIF has been the topic of a number of research analyst reports. Scotiabank boosted their target price on Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. TD Securities cut their price objective on Labrador Iron Ore Royalty from C$30.00 to C$29.00 and set a "hold" rating for the company in a research report on Friday, March 13th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Labrador Iron Ore Royalty presently has a consensus rating of "Hold" and an average price target of C$29.50.

Labrador Iron Ore Royalty Stock Down 0.1%

The company has a market capitalization of C$1.90 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.94 and a beta of 0.34. The company has a 50 day simple moving average of C$29.72 and a 200 day simple moving average of C$29.61.

Labrador Iron Ore Royalty (TSE:LIF - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The company reported C$0.35 EPS for the quarter. Labrador Iron Ore Royalty had a return on equity of 15.70% and a net margin of 60.64%.The company had revenue of C$39.46 million during the quarter. On average, research analysts forecast that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current fiscal year.

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.

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