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

Labrador Iron Ore Royalty (TSE:LIF) had its target price hoisted by stock analysts at Scotiabank from C$28.00 to C$30.00 in a research report issued on Thursday,BayStreet.CA reports. Scotiabank’s price target would indicate a potential downside of 1.67% from the stock’s previous close.

Labrador Iron Ore Royalty Trading Down 1.5%

Shares of LIF stock traded down C$0.48 during trading hours on Thursday, reaching C$30.51. 53,490 shares of the company’s stock were exchanged, compared to its average volume of 183,138. The stock has a market cap of C$1.95 billion, a PE ratio of 17.84, a PEG ratio of 0.94 and a beta of 0.56. The stock’s fifty day moving average price is C$29.77 and its two-hundred day moving average price is C$28.41. Labrador Iron Ore Royalty has a 1 year low of C$25.85 and a 1 year high of C$31.16.

Labrador Iron Ore Royalty (TSE:LIF) last released its earnings results on Thursday, November 6th. The company reported C$0.47 earnings per share 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 for the quarter. On average, equities analysts expect that Labrador Iron Ore Royalty will post 3.7420091 EPS for the current fiscal year.

Insider Activity at Labrador Iron Ore Royalty

In other Labrador Iron Ore Royalty news, insider Stephen Douglas Pearce acquired 2,000 shares of the company’s stock in a transaction dated Thursday, November 27th. The shares were acquired at an average cost of C$29.71 per share, with a total value of C$59,420.00. Following the acquisition, the insider directly owned 2,000 shares of the company’s stock, valued at approximately C$59,420. The trade was a ∞ increase in their ownership of the stock. 0.08% of the stock is owned by company insiders.

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.