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

Labrador Iron Ore Royalty (TSE:LIF) had its price target reduced by investment analysts at TD Securities from C$30.00 to C$29.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price objective indicates a potential upside of 4.69% from the company’s previous close.

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

Labrador Iron Ore Royalty Price Performance

TSE:LIF traded down C$0.77 during trading hours on Friday, hitting C$27.70. The company had a trading volume of 228,244 shares, compared to its average volume of 200,791. The company has a market capitalization of C$1.77 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.94 and a beta of 0.33. The stock has a 50-day moving average price of C$30.52 and a 200 day moving average price of C$29.40. Labrador Iron Ore Royalty has a 52 week low of C$25.85 and a 52 week high of C$31.97.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings data on Wednesday, March 11th. The company reported C$0.35 earnings per share (EPS) for the quarter. Labrador Iron Ore Royalty had a net margin of 60.30% and a return on equity of 17.24%. The business had revenue of C$39.46 million for the quarter. Analysts anticipate that Labrador Iron Ore Royalty will post 3.7420091 EPS for the current fiscal year.

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.