Labrador Iron Ore Royalty (TSE:LIF) Trading Down 1.1% – Here’s What Happened

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price was down 1.1% on Wednesday . The company traded as low as C$29.39 and last traded at C$29.83. Approximately 33,790 shares were traded during trading, a decline of 85% from the average daily volume of 230,624 shares. The stock had previously closed at C$30.17.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LIF. TD Securities downgraded Labrador Iron Ore Royalty from a “strong-buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada cut 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 research report on Thursday.

Labrador Iron Ore Royalty Stock Performance

The company’s 50-day moving average price is C$30.28 and its 200 day moving average price is C$30.38. The stock has a market capitalization of C$1.90 billion, a PE ratio of 9.67, 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.