Labrador Iron Ore Royalty (TSE:LIF) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$28.18 and traded as high as C$28.21. Labrador Iron Ore Royalty shares last traded at C$27.30, with a volume of 309,671 shares changing hands.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered their target price on Labrador Iron Ore Royalty from C$30.00 to C$29.00 and set a “hold” rating for the company in a research note on Friday, March 13th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Labrador Iron Ore Royalty presently has a consensus rating of “Hold” and an average target price of C$29.50.

Labrador Iron Ore Royalty Trading Up 0.3%

The stock has a market capitalization of C$1.74 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 0.94 and a beta of 0.33. The company’s 50 day moving average is C$28.14 and its 200 day moving average is C$29.26.

Labrador Iron Ore Royalty (TSE:LIF) last released its quarterly earnings results on Monday, May 4th. The company reported C$0.21 EPS for the quarter. Labrador Iron Ore Royalty had a return on equity of 14.38% and a net margin of 55.72%.The company had revenue of C$35.75 million for the quarter. Analysts anticipate that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current fiscal year.

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.