Labrador Iron Ore Royalty Corporation’s (LIF) “Outperform” Rating Reaffirmed at Scotiabank
Labrador Iron Ore Royalty Corporation (TSE:LIF)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Scotiabank in a research report issued to clients and investors on Tuesday. They presently have a C$24.50 price objective on the stock. Scotiabank’s price target points to a potential upside of 17.51% from the company’s previous close.
Several other analysts also recently issued reports on the company. CSFB upgraded Labrador Iron Ore Royalty Corporation from an “underperform” rating to an “outperform” rating and upped their price objective for the company from C$16.50 to C$20.00 in a research report on Thursday, August 3rd. BMO Capital Markets upped their price objective on Labrador Iron Ore Royalty Corporation from C$17.00 to C$18.00 in a research report on Tuesday, September 26th. Finally, Eight Capital restated a “neutral” rating on shares of Labrador Iron Ore Royalty Corporation in a research report on Thursday, August 17th.
Shares of Labrador Iron Ore Royalty Corporation (TSE LIF) traded down 0.05% during mid-day trading on Tuesday, hitting $20.85. The company’s stock had a trading volume of 166,223 shares. The company has a market cap of $1.35 billion and a PE ratio of 9.96. The stock has a 50-day moving average of $20.22 and a 200-day moving average of $18.05. Labrador Iron Ore Royalty Corporation has a 12-month low of $13.33 and a 12-month high of $21.58.
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In related news, Director Duncan Newton Rowell Jackman acquired 3,000 shares of Labrador Iron Ore Royalty Corporation stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of C$18.69 per share, for a total transaction of C$56,070.00.
Labrador Iron Ore Royalty Corporation Company Profile
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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