Raymond James cut shares of Labrador Iron Ore Royalty (OTCMKTS:LIFZF) from an outperform rating to a market perform rating in a research note released on Tuesday, The Fly reports.
A number of other research firms also recently issued reports on LIFZF. Royal Bank of Canada restated a sector perform rating and set a $42.00 price target (up previously from $40.00) on shares of Labrador Iron Ore Royalty in a research note on Monday, March 29th. TD Securities raised their price target on Labrador Iron Ore Royalty from $38.00 to $40.00 and gave the stock a buy rating in a research note on Tuesday, January 26th. Finally, Scotiabank lifted their target price on Labrador Iron Ore Royalty from $40.00 to $41.00 and gave the company an outperform rating in a research note on Friday, March 5th.
OTCMKTS:LIFZF opened at $28.53 on Tuesday. The stock’s 50 day moving average price is $30.05 and its 200 day moving average price is $24.52. Labrador Iron Ore Royalty has a 52-week low of $12.24 and a 52-week high of $33.91.
Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes an iron ores at Labrador City, Newfoundland and Labrador. IOC produces seaborne iron ore pellets; and sells standard and low silica acid, flux, and direct reduction pellets, as well as iron ore concentrate.
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