Labrador Iron Ore Royalty (TSE:LIF) Price Target Increased to C$33.00 by Analysts at Scotiabank

Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) had its price target upped by equities research analysts at Scotiabank from C$32.00 to C$33.00 in a research note issued on Thursday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 9.45% from the company’s current price.

Several other analysts also recently commented on the stock. BMO Capital Markets decreased their target price on shares of Labrador Iron Ore Royalty from C$32.00 to C$30.00 in a research report on Monday, May 8th. TD Securities raised shares of Labrador Iron Ore Royalty from a “hold” rating to a “buy” rating and decreased their target price for the stock from C$36.00 to C$35.00 in a research report on Monday, May 8th. Finally, Raymond James decreased their price objective on shares of Labrador Iron Ore Royalty from C$36.00 to C$35.00 in a report on Friday, June 2nd.

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Labrador Iron Ore Royalty Stock Performance

Labrador Iron Ore Royalty stock opened at C$30.15 on Thursday. The firm has a market cap of C$1.93 billion, a PE ratio of 7.85, a P/E/G ratio of 0.94 and a beta of 1.25. The firm’s 50 day moving average price is C$31.13 and its two-hundred day moving average price is C$32.71. Labrador Iron Ore Royalty has a twelve month low of C$26.66 and a twelve month high of C$39.59.

Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) last posted its earnings results on Thursday, May 4th. The company reported C$0.68 EPS for the quarter, missing the consensus estimate of C$1.13 by C($0.45). The business had revenue of C$47.21 million during the quarter. Labrador Iron Ore Royalty had a return on equity of 39.50% and a net margin of 109.17%. Equities analysts anticipate that Labrador Iron Ore Royalty will post 3.1405128 EPS for the current fiscal year.

Labrador Iron Ore Royalty Company Profile

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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 iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets, and iron ore concentrate, as well as seaborne iron ore pellets.

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