Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report) reached a new 52-week low 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 changing hands. The stock had previously closed at C$30.17.
Separately, Royal Bank of Canada cut their target price on shares of Labrador Iron Ore Royalty from C$38.00 to C$36.00 and set a "sector perform" rating for the company in a research note on Thursday.
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Labrador Iron Ore Royalty Stock Performance
The firm's 50-day moving average is C$30.30 and its two-hundred day moving average is C$30.38. The stock 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.
Labrador Iron Ore Royalty Company Profile
(
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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.
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