Labrador Iron Ore Royalty (TSE:LIF) Price Target Raised to C$32.00 at Scotiabank

Labrador Iron Ore Royalty (TSE:LIF) had its price objective boosted by equities research analysts at Scotiabank from C$31.00 to C$32.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential downside of 0.56% from the stock’s previous close.

Labrador Iron Ore Royalty Stock Performance

TSE:LIF traded down C$0.30 on Tuesday, reaching C$32.18. The company’s stock had a trading volume of 77,127 shares, compared to its average volume of 202,848. Labrador Iron Ore Royalty has a 1-year low of C$28.48 and a 1-year high of C$33.97. The firm has a market cap of C$2.06 billion, a PE ratio of 10.06, a PEG ratio of 0.94 and a beta of 1.10. The business’s 50-day moving average price is C$30.56 and its two-hundred day moving average price is C$30.08.

Labrador Iron Ore Royalty (TSE:LIF) last posted its earnings results on Tuesday, August 6th. The company reported C$0.78 earnings per share (EPS) for the quarter. The firm had revenue of C$53.13 million during the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. As a group, sell-side analysts expect that Labrador Iron Ore Royalty will post 3.7367816 EPS for the current year.

About Labrador Iron Ore Royalty

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; iron ore concentrate; and seaborne iron ore pellets.