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

Labrador Iron Ore Royalty (TSE:LIF) had its price objective lifted by Scotiabank from C$28.00 to C$30.00 in a report issued on Thursday,BayStreet.CA reports. Scotiabank’s price objective points to a potential downside of 2.82% from the stock’s current price.

Labrador Iron Ore Royalty Trading Up 0.6%

Shares of Labrador Iron Ore Royalty stock opened at C$30.87 on Thursday. The stock has a 50-day moving average price of C$29.85 and a 200 day moving average price of C$28.45. The company has a market cap of C$1.98 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.94 and a beta of 0.56. Labrador Iron Ore Royalty has a 1 year low of C$25.85 and a 1 year high of C$31.16.

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 firm had revenue of C$43.85 million for the quarter. Labrador Iron Ore Royalty had a net margin of 94.67% and a return on equity of 29.05%. On average, equities analysts forecast that Labrador Iron Ore Royalty will post 3.7420091 earnings per share for the current fiscal year.

Insider Transactions at Labrador Iron Ore Royalty

In other Labrador Iron Ore Royalty news, insider Stephen Douglas Pearce bought 2,000 shares of the firm’s stock in a transaction on Thursday, November 27th. The stock was bought 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 directly owned 2,000 shares of the company’s stock, valued at approximately C$59,420. The trade was a ∞ increase in their position. 0.08% of the stock is owned by company insiders.

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.