Labrador Iron Ore Royalty Corporation (LIF) Rating Increased to Outperform at Scotiabank
Labrador Iron Ore Royalty Corporation (TSE:LIF) was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued on Thursday. The firm presently has a C$23.00 price target on the stock, up from their previous price target of C$20.00. Scotiabank’s target price points to a potential upside of 14.14% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. CSFB upgraded Labrador Iron Ore Royalty Corporation from an “underperform” rating to an “outperform” rating and upped their price target for the company from C$16.50 to C$20.00 in a research report on Thursday, August 3rd. Eight Capital reiterated a “neutral” rating on shares of Labrador Iron Ore Royalty Corporation in a research report on Thursday, August 17th.
Labrador Iron Ore Royalty Corporation (LIF) opened at 20.15 on Thursday. The company has a market capitalization of $1.30 billion and a price-to-earnings ratio of 9.62. The firm has a 50-day moving average of $18.40 and a 200 day moving average of $17.82. Labrador Iron Ore Royalty Corporation has a 12-month low of $12.82 and a 12-month high of $20.67.
In related news, Director Duncan Newton Rowell Jackman acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of C$18.69 per share, for a total transaction of C$56,070.00.
Labrador Iron Ore Royalty Corporation Company Profile
Labrador Iron Ore Royalty Corporation, together with its subsidiary, Hollinger-Hanna Limited, owns a 15.10% equity interest in Iron Ore Company of Canada (IOC) that operates an iron mine near Labrador City, Newfoundland and Labrador. IOC engages in the production and sale of iron ore pellets and concentrates in North America, Europe, the Middle East, and the Asia-Pacific region.
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