Labrador Iron Ore Royalty (TSE:LIF) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$30.27 and traded as low as C$29.91. Labrador Iron Ore Royalty shares last traded at C$30.10, with a volume of 265,203 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price objective on Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research report on Wednesday, November 6th.

Labrador Iron Ore Royalty Stock Down 1.1 %

The stock has a 50-day moving average price of C$30.47 and a 200 day moving average price of C$30.26. The firm has a market capitalization of C$1.90 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 0.94 and a beta of 1.10.

About Labrador Iron Ore Royalty

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets; iron ore concentrate; and seaborne iron ore pellets.