Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report)'s share price dropped 1.1% on Wednesday . The stock traded as low as C$29.39 and last traded at C$29.83. Approximately 33,790 shares traded hands during trading, a decline of 85% from the average daily volume of 230,624 shares. The stock had previously closed at C$30.17.
Analyst Upgrades and Downgrades
LIF has been the topic of several recent analyst reports. TD Securities lowered shares of Labrador Iron Ore Royalty from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Royal Bank of Canada decreased their target price on shares of Labrador Iron Ore Royalty from C$38.00 to C$36.00 and set a "sector perform" rating on the stock in a research report on Thursday.
Get Our Latest Research Report on LIF
Labrador Iron Ore Royalty Stock Performance
The company has a market capitalization of C$1.93 billion, a price-to-earnings ratio of 9.84, a P/E/G 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$30.38.
About Labrador Iron Ore Royalty
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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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