TD Securities Lowers Labrador Iron Ore Royalty (TSE:LIF) Price Target to C$29.00

Labrador Iron Ore Royalty (TSE:LIF) had its price target lowered by analysts at TD Securities from C$30.00 to C$29.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price target would suggest a potential upside of 5.19% from the company’s previous close.

Separately, Scotiabank raised their target price on Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a report on Thursday, January 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$29.50.

Labrador Iron Ore Royalty Trading Down 3.2%

Shares of TSE:LIF opened at C$27.57 on Friday. The firm has a 50 day moving average of C$30.49 and a 200-day moving average of C$29.42. Labrador Iron Ore Royalty has a 12 month low of C$25.85 and a 12 month high of C$31.97. The stock has a market capitalization of C$1.76 billion, a PE ratio of 16.12, a PEG ratio of 0.94 and a beta of 0.33.

Labrador Iron Ore Royalty (TSE:LIF) last posted its quarterly earnings results on Wednesday, March 11th. The company reported C$0.35 earnings per share (EPS) for the quarter. The business had revenue of C$39.46 million for the quarter. Labrador Iron Ore Royalty had a net margin of 60.64% and a return on equity of 15.70%. On average, research analysts predict 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 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.