Labrador Iron Ore Royalty (TSE:LIF) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$29.72 and traded as high as C$29.87. Labrador Iron Ore Royalty shares last traded at C$29.82, with a volume of 157,668 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LIF shares. Royal Bank of Canada dropped their price objective 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 report on Thursday, March 13th. TD Securities downgraded Labrador Iron Ore Royalty from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 13th.

Labrador Iron Ore Royalty Stock Down 0.6%

The business's fifty day simple moving average is C$28.91 and its two-hundred day simple moving average is C$29.63. The company has a market cap of C$1.81 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.94 and a beta of 1.10.

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.