Paradigm Capital lowered shares of Labrador Iron Mines (TSE:LIM) from a speculative buy rating to a hold rating in a report released on Friday, AnalystRatingsNetwork reports.
Shares of Labrador Iron Mines (TSE:LIM) opened at 0.50 on Friday. Labrador Iron Mines has a 52 week low of $0.42 and a 52 week high of $2.25. The stock has a 50-day moving average of $0.49 and a 200-day moving average of $0.54. The company’s market cap is $63.1 million.
Several other analysts have also recently commented on the stock. Analysts at Desjardins cut their price target on shares of Labrador Iron Mines from C$0.75 to C$0.70 in a research note to investors on Monday, July 15th. Separately, analysts at Scotiabank cut their price target on shares of Labrador Iron Mines from C$1.60 to C$1.20 in a research note to investors on Wednesday, July 10th. Finally, analysts at Canaccord Genuity cut their price target on shares of Labrador Iron Mines from C$1.60 to C$0.90 in a research note to investors on Thursday, July 4th.
Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Labrador Iron Mines presently has an average rating of Hold and an average target price of C$0.89.
Labrador Iron Mines Holdings Limited is an iron ore producer, engaged in the mining of iron ore and in the exploration and development of direct shipping iron ore projects (TSE:LIM) in the central part of the Labrador Trough region, situated in the Province of Newfoundland and Labrador and in the Province of Quebec.
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