Labrador Iron Ore Royalty (TSE:LIF) Hits New 12-Month Low After Analyst Downgrade

Labrador Iron Ore Royalty Co. (TSE:LIF) shares hit a new 52-week low during mid-day trading on Thursday after TD Securities downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as C$28.40 and last traded at C$28.93, with a volume of 722292 shares trading hands. The stock had previously closed at C$30.17.

Separately, Royal Bank of Canada reduced their price target on Labrador Iron Ore Royalty from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a research report on Thursday.

Labrador Iron Ore Royalty Trading Up 1.8 %

The company has a market cap of C$1.93 billion, a P/E ratio of 9.84, a PEG ratio of 0.94 and a beta of 1.10. The business has a 50 day moving average price of C$30.30 and a 200-day moving average price of C$30.37.

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.