Scotiabank Reiterates “Outperform” Rating for Labrador Iron Ore Royalty (LIF)
Labrador Iron Ore Royalty (TSE:LIF)‘s stock had its “outperform” rating reiterated by analysts at Scotiabank in a research note issued on Friday. They currently have a C$26.50 target price on the stock. Scotiabank’s target price indicates a potential upside of 5.08% from the company’s previous close.
Other research analysts also recently issued reports about the company. BMO Capital Markets boosted their price objective on Labrador Iron Ore Royalty from C$17.00 to C$18.00 in a research note on Tuesday, September 26th. Eight Capital reissued a “neutral” rating on shares of Labrador Iron Ore Royalty in a research note on Thursday, August 17th. Finally, Royal Bank of Canada boosted their price objective on Labrador Iron Ore Royalty from C$23.00 to C$25.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th.
Labrador Iron Ore Royalty (TSE LIF) opened at C$25.22 on Friday. Labrador Iron Ore Royalty has a 52 week low of C$15.10 and a 52 week high of C$25.50.
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Labrador Iron Ore Royalty Corporation, together with its subsidiary, Hollinger-Hanna Limited, owns a 15.10% equity interest in Iron Ore Company of Canada (IOC) that operates an iron mine near Labrador City, Newfoundland and Labrador. IOC engages in the production and sale of iron ore pellets and concentrates in North America, Europe, the Middle East, and the Asia-Pacific region.
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