Labrador Iron Ore Royalty (TSE:LIF) Price Target Cut to C$30.00

Labrador Iron Ore Royalty (TSE:LIF) had its price objective lowered by research analysts at Scotiabank from C$34.00 to C$30.00 in a report issued on Wednesday, BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 1.76% from the company’s current price.

Labrador Iron Ore Royalty Stock Performance

Labrador Iron Ore Royalty stock traded down C$0.74 during trading hours on Wednesday, reaching C$29.48. 186,735 shares of the stock were exchanged, compared to its average volume of 135,372. The stock has a market cap of C$1.89 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.94 and a beta of 1.14. Labrador Iron Ore Royalty has a 52-week low of C$27.04 and a 52-week high of C$34.18. The firm’s 50 day moving average is C$31.49 and its 200 day moving average is C$31.58.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets, and iron ore concentrate, as well as seaborne iron ore pellets.