Labrador Iron Ore Royalty Co. (TSE:LIF) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF – Get Rating) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$40.00.

Several brokerages have recently commented on LIF. TD Securities decreased their target price on Labrador Iron Ore Royalty from C$45.00 to C$36.00 and set a “hold” rating for the company in a research report on Monday, May 9th. Raymond James set a C$42.00 target price on Labrador Iron Ore Royalty and gave the company a “market perform” rating in a research note on Monday, May 9th. Eight Capital downgraded Labrador Iron Ore Royalty from a “buy” rating to a “neutral” rating in a research note on Thursday, April 21st. Finally, Scotiabank decreased their price target on Labrador Iron Ore Royalty from C$48.00 to C$45.00 in a research report on Monday, May 9th.

Shares of LIF traded up C$0.16 during mid-day trading on Friday, hitting C$33.60. The stock had a trading volume of 162,451 shares, compared to its average volume of 347,611. The company has a market cap of C$2.15 billion and a PE ratio of 5.66. The company’s fifty day simple moving average is C$36.81 and its two-hundred day simple moving average is C$38.87. Labrador Iron Ore Royalty has a fifty-two week low of C$28.28 and a fifty-two week high of C$51.00.

Labrador Iron Ore Royalty (TSE:LIF – Get Rating) last issued its earnings results on Friday, March 11th. The company reported C$1.22 EPS for the quarter, topping the consensus estimate of C$0.78 by C$0.44. The firm had revenue of C$60.10 million during the quarter. On average, equities analysts anticipate that Labrador Iron Ore Royalty will post 3.6242521 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Thursday, March 31st were issued a $0.50 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $2.00 annualized dividend and a yield of 5.95%. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is presently 92.69%.

Labrador Iron Ore Royalty Company Profile (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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