Labrador Iron Ore Royalty (TSE:LIF) Cut to Hold at TD Securities

Labrador Iron Ore Royalty (TSE:LIF) was downgraded by research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Royal Bank of Canada lowered their price objective 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.

Labrador Iron Ore Royalty Stock Performance

Labrador Iron Ore Royalty stock opened at C$29.52 on Thursday. Labrador Iron Ore Royalty has a 1 year low of C$28.40 and a 1 year high of C$33.97. The firm has a 50 day moving average price of C$30.28 and a 200 day moving average price of C$30.38. The company has a market cap of C$1.90 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.94 and a beta of 1.10.

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.