Shares of Labrador Iron Ore Royalty Co. (TSE:LIF – Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$29.50 and traded as low as C$28.45. Labrador Iron Ore Royalty shares last traded at C$29.00, with a volume of 315,917 shares traded.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Scotiabank upped their price target on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. TD Securities cut their price objective on Labrador Iron Ore Royalty from C$30.00 to C$29.00 and set a “hold” rating for the company in a research note on Friday, March 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$29.50.
Get Our Latest Stock Analysis on Labrador Iron Ore Royalty
Labrador Iron Ore Royalty Stock Performance
Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) last announced its earnings results on Wednesday, March 11th. The company reported C$0.35 earnings per share (EPS) for the quarter. Labrador Iron Ore Royalty had a net margin of 60.64% and a return on equity of 15.70%. The company had revenue of C$39.46 million for the quarter. On average, equities analysts predict that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current fiscal year.
Labrador Iron Ore Royalty Company Profile
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.
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