Scotiabank Trims Labrador Iron Ore Royalty (TSE:LIF) Target Price to C$48.00

Labrador Iron Ore Royalty (TSE:LIF – Get Rating) had its price target dropped by Scotiabank from C$50.00 to C$48.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 16.79% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. TD Securities upped their price objective on shares of Labrador Iron Ore Royalty from C$40.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, March 25th. BMO Capital Markets cut their price objective on shares of Labrador Iron Ore Royalty from C$38.00 to C$36.00 in a research note on Wednesday, January 19th. Finally, Raymond James upped their price objective on shares of Labrador Iron Ore Royalty from C$40.00 to C$43.50 and gave the company a “market perform” rating in a research note on Tuesday, April 5th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$42.25.

Shares of TSE:LIF opened at C$41.10 on Wednesday. The company’s fifty day moving average price is C$43.25 and its 200-day moving average price is C$39.26. The firm has a market capitalization of C$2.63 billion and a price-to-earnings ratio of 6.93. Labrador Iron Ore Royalty has a one year low of C$33.33 and a one year high of C$51.00.

Labrador Iron Ore Royalty (TSE:LIF – Get Rating) last issued its quarterly earnings results on Friday, March 11th. The company reported C$1.22 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.78 by C$0.44. The company had revenue of C$60.10 million during the quarter. As a group, research analysts forecast that Labrador Iron Ore Royalty will post 3.3931795 earnings per share for the current fiscal year.

About Labrador Iron Ore Royalty (Get Rating)

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. The company's primary products include standard and low silica acid, flux, direct reduction pellets, and iron ore concentrate, as well as seaborne iron ore pellets.

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