Labrador Iron Ore Royalty (TSE:LIF) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$28.96 and traded as high as C$30.66. Labrador Iron Ore Royalty shares last traded at C$30.45, with a volume of 174,692 shares.

Analysts Set New Price Targets

Separately, Scotiabank boosted their target price on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Labrador Iron Ore Royalty presently has a consensus rating of “Hold” and a consensus target price of C$33.00.

Labrador Iron Ore Royalty Stock Performance

The stock has a market cap of C$1.95 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.94 and a beta of 0.32. The company’s 50 day simple moving average is C$30.41 and its two-hundred day simple moving average is C$28.96.

Insider Activity

In other news, insider Stephen Douglas Pearce bought 2,000 shares of the stock in a transaction on Thursday, November 27th. The shares were purchased at an average price of C$29.71 per share, for a total transaction of C$59,420.00. Following the completion of the purchase, the insider directly owned 2,000 shares of the company’s stock, valued at C$59,420. This trade represents a ∞ increase in their position. Corporate insiders own 0.08% of the company’s stock.

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. 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.