Labrador Iron Ore Royalty (TSE:LIF) Reaches New 52-Week Low – Here’s Why

Labrador Iron Ore Royalty Co. (TSE:LIF)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$27.74 and last traded at C$27.75, with a volume of 87787 shares. The stock had previously closed at C$28.74.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Securities downgraded Labrador Iron Ore Royalty from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 13th. Royal Bank of Canada reduced their price target 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 report on Thursday, March 13th.

Labrador Iron Ore Royalty Price Performance

The company has a market cap of C$1.76 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.94 and a beta of 1.10. The business has a 50-day moving average of C$30.28 and a two-hundred day moving average of C$30.40.

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.