Labrador Iron Ore Royalty (TSE:LIF) Stock Price Passes Below 200 Day Moving Average - What's Next?

Key Points

• Technical signal: Labrador Iron Ore Royalty's stock passed below its 200-day moving average, trading as low as C$29.33 and last at C$29.54 versus the 200‑day average of C$29.56 on volume of 115,887 shares.
• Analyst outlook: The consensus rating is a "Hold" with a consensus price target of C$29.50; TD Securities cut its target to C$29 while Scotiabank recently raised its target to C$30.
• Recent results and fundamentals: The company reported quarterly EPS of C$0.35 on C$39.46M revenue with a 60.64% net margin and 15.7% ROE, has a market cap of C$1.89B and a P/E of 18.82, and analysts project roughly C$3.74 EPS for the year.

Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.56 and traded as low as C$29.33. Labrador Iron Ore Royalty shares last traded at C$29.54, with a volume of 115,887 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Securities cut their target price on shares of Labrador Iron Ore Royalty from C$30.00 to C$29.00 and set a "hold" rating on the stock in a research report on Friday, March 13th. Scotiabank lifted their target price on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$29.50.

Labrador Iron Ore Royalty Trading Down 0.2%

The stock has a market cap of C$1.89 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 0.94 and a beta of 0.34. The stock's 50-day moving average price is C$29.72 and its 200-day moving average price is C$29.56.

Labrador Iron Ore Royalty (TSE:LIF - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The company reported C$0.35 earnings per share (EPS) for the quarter. The firm had revenue of C$39.46 million for the quarter. Labrador Iron Ore Royalty had a net margin of 60.64% and a return on equity of 15.70%. As a group, analysts predict that Labrador Iron Ore Royalty Co. will post 3.7420091 earnings per share for the current 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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