Labrador Iron Ore Royalty (TSE:LIF) Price Target Raised to C$30.00 at Scotiabank

Labrador Iron Ore Royalty (TSE:LIF) had its price objective upped by Scotiabank from C$28.00 to C$30.00 in a research report released on Thursday morning,BayStreet.CA reports.

Labrador Iron Ore Royalty Stock Performance

TSE LIF opened at C$30.68 on Thursday. The business’s 50 day moving average price is C$29.81 and its 200-day moving average price is C$28.43. Labrador Iron Ore Royalty has a fifty-two week low of C$25.85 and a fifty-two week high of C$31.16. The company has a market cap of C$1.96 billion, a P/E ratio of 17.94, a P/E/G ratio of 0.94 and a beta of 0.56.

Labrador Iron Ore Royalty (TSE:LIF) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.47 EPS for the quarter. Labrador Iron Ore Royalty had a net margin of 94.67% and a return on equity of 29.05%. The company had revenue of C$43.85 million during the quarter. As a group, equities analysts predict that Labrador Iron Ore Royalty will post 3.7420091 EPS for the current year.

Insider Buying and Selling

In other news, insider Stephen Douglas Pearce acquired 2,000 shares of Labrador Iron Ore Royalty stock in a transaction that occurred on Thursday, November 27th. The shares were bought at an average cost of C$29.71 per share, with a total value of C$59,420.00. Following the transaction, the insider directly owned 2,000 shares of the company’s stock, valued at C$59,420. This trade represents a ∞ increase in their position. Insiders own 0.08% of the company’s stock.

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. Directly and through its wholly-owned subsidiary, Hollinger-Hanna, LIORC owns an equity interest in IOC and receives gross overriding royalty on all iron ore products produced from the leased lands that are sold and shipped by IOC and commission on IOC’s sales of iron ore.