Royal Bank of Canada Issues Pessimistic Forecast for Labrador Iron Ore Royalty (TSE:LIF) Stock Price

Labrador Iron Ore Royalty (TSE:LIF) had its target price lowered by stock analysts at Royal Bank of Canada from C$38.00 to C$36.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 19.80% from the company’s current price.

Labrador Iron Ore Royalty Trading Up 1.8 %

Shares of LIF stock opened at C$30.05 on Thursday. The company has a market cap 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. 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 12-month low of C$28.40 and a 12-month high of C$33.97.

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.