Scotiabank Issues Pessimistic Forecast for Labrador Iron Ore Royalty (TSE:LIF) Stock Price

Labrador Iron Ore Royalty (TSE:LIF) had its price target cut by research analysts at Scotiabank from C$32.00 to C$31.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 1.97% from the stock’s current price.

Labrador Iron Ore Royalty Trading Up 2.5 %

Shares of TSE:LIF opened at C$30.40 on Wednesday. The company has a market capitalization of C$1.95 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.94 and a beta of 1.10. Labrador Iron Ore Royalty has a 12 month low of C$28.48 and a 12 month high of C$33.97. The firm’s 50-day moving average is C$31.18 and its 200 day moving average is C$30.38.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$0.78 earnings per share for the quarter. The firm had revenue of C$53.13 million for the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. As a group, equities analysts forecast that Labrador Iron Ore Royalty will post 3.7420091 EPS for the current fiscal year.

Labrador Iron Ore Royalty Company Profile

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.