Labrador Iron Ore Royalty (TSE:LIF) Downgraded to “Hold” Rating by TD Securities

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

Separately, Royal Bank of Canada decreased their target price on 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

TSE:LIF opened at C$30.05 on Thursday. The stock has a 50-day simple moving average of C$30.30 and a 200 day simple moving average of C$30.37. Labrador Iron Ore Royalty has a one year low of C$28.40 and a one year high of C$33.97. The company has a market capitalization of C$1.93 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth 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.