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

Labrador Iron Ore Royalty (TSE:LIF) had its price target lifted by investment analysts at Scotiabank from C$28.00 to C$30.00 in a note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s target price points to a potential downside of 1.67% from the stock’s current price.

Labrador Iron Ore Royalty Price Performance

Shares of Labrador Iron Ore Royalty stock traded down C$0.48 during trading on Thursday, hitting C$30.51. The stock had a trading volume of 53,490 shares, compared to its average volume of 183,138. Labrador Iron Ore Royalty has a 12 month low of C$25.85 and a 12 month high of C$31.16. The firm’s fifty day simple moving average is C$29.77 and its 200-day simple moving average is C$28.41. 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.

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

Insider Activity at Labrador Iron Ore Royalty

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