Labrador Iron Ore Royalty (TSE:LIF) Hits New 52-Week High – What’s Next?

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$31.28 and last traded at C$31.28, with a volume of 115182 shares traded. The stock had previously closed at C$30.87.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their price objective on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Labrador Iron Ore Royalty has an average rating of “Hold” and an average target price of C$33.00.

Labrador Iron Ore Royalty Stock Up 1.3%

The firm has a 50 day moving average of C$29.89 and a 200 day moving average of C$28.47. The firm has a market cap of C$2.00 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.94 and a beta of 0.56.

Labrador Iron Ore Royalty (TSE:LIF) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.47 earnings per share (EPS) for the quarter. The firm 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%. Equities analysts expect that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current year.

Insider Buying and Selling

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