Labrador Iron Ore Royalty Co. (OTCMKTS:LIFZF – Get Free Report) shares dropped 0.7% during mid-day trading on Thursday. The stock traded as low as $14.84 and last traded at $14.91. Approximately 56,062 shares changed hands during trading, an increase of 119% from the average daily volume of 25,558 shares. The stock had previously closed at $15.01.
Labrador Iron Ore Royalty Stock Down 0.7%
The firm’s fifty day simple moving average is $17.66 and its 200 day simple moving average is $19.19.
Labrador Iron Ore Royalty Company Profile
Labrador Iron Ore Royalty Corporation is a Canadian resource company that derives substantially all of its revenue from its interests in Iron Ore Company of Canada (IOC), a major iron ore producer. Rather than operating mines directly, Labrador Iron Ore Royalty provides investors with exposure to IOC’s iron ore operations through royalty, commission and equity interests.
The company holds an equity interest in IOC and is entitled to a gross overriding royalty on IOC’s iron ore sales, along with a commission on the sale of IOC’s iron ore products.
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