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

Key Points

• Shares dipped below the 200-day moving average of C$29.50, trading as low as C$28.45 and last at C$29.00 on a volume of 315,917, a potential short-term bearish technical signal.
• Analysts hold a consensus rating of Hold with an average target of C$29.50; TD cut its target to C$29 while Scotiabank raised its target to C$30.
• Fundamentals show a market cap of C$1.86 billion, a P/E of 18.47, a recent quarterly EPS of C$0.35 and a high net margin (~60.6%), indicating strong profitability despite the price pullback.

Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$29.50 and traded as low as C$28.45. Labrador Iron Ore Royalty shares last traded at C$29.00, with a volume of 315,917 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LIF shares. TD Securities dropped their price target 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 upped their price objective on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$29.50.

Labrador Iron Ore Royalty Stock Performance

The firm has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 0.94 and a beta of 0.33. The company has a 50 day moving average price of C$29.83 and a two-hundred day moving average price of C$29.50.

Labrador Iron Ore Royalty (TSE:LIF - Get Free Report) last released 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%. On average, equities analysts expect that Labrador Iron Ore Royalty Co. will post 3.7420091 earnings per share 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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