Labrador Iron Ore Royalty (TSE:LIF) Sets New 52-Week High – What’s Next?

Labrador Iron Ore Royalty Co. (TSE:LIF) shares hit a new 52-week high on Tuesday . The stock traded as high as C$31.28 and last traded at C$31.28, with a volume of 115182 shares trading hands. The stock had previously closed at C$30.87.

Analyst Upgrades and Downgrades

Separately, Scotiabank increased their price objective on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$33.00.

Labrador Iron Ore Royalty Stock Performance

The company has a market cap of C$2.04 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56. The business’s fifty day moving average is C$30.01 and its two-hundred day moving average is C$28.51.

Labrador Iron Ore Royalty (TSE:LIF) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$43.85 million during the quarter. Labrador Iron Ore Royalty had a net margin of 94.67% and a return on equity of 29.05%. Analysts expect that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current fiscal year.

Insider Buying and Selling at Labrador Iron Ore Royalty

In other news, insider Stephen Douglas Pearce purchased 2,000 shares of the company’s stock in a transaction dated Thursday, November 27th. The shares were acquired at an average price of C$29.71 per share, with a total value of C$59,420.00. Following the transaction, the insider owned 2,000 shares of the company’s stock, valued at C$59,420. This represents a ∞ increase in their ownership of the stock. Corporate 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.