Labrador Iron Ore Royalty (TSE:LIF) Reaches New 52-Week Low After Analyst Downgrade

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

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

Labrador Iron Ore Royalty Stock Performance

The company has a fifty day moving average price of C$30.30 and a 200-day moving average price of C$30.37. The firm has a market capitalization of C$1.93 billion, a PE ratio of 9.84, a PEG ratio of 0.94 and a beta of 1.10.

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.