Labrador Iron Ore Royalty Corporation (TSE:LIF) had its price objective increased by research analysts at Scotiabank from C$23.00 to C$25.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 27.10% from the company’s current price.
Several other research firms also recently commented on LIF. Eight Capital reaffirmed a “neutral” rating on shares of Labrador Iron Ore Royalty Corporation in a report on Thursday, August 17th. CSFB cut Labrador Iron Ore Royalty Corporation from a “neutral” rating to an “underperform” rating and decreased their price target for the company from C$20.00 to C$16.50 in a research report on Tuesday, May 23rd.
Labrador Iron Ore Royalty Corporation (LIF) traded up 8.34% during trading on Monday, reaching $21.31. 483,774 shares of the company were exchanged. The firm’s 50 day moving average price is $18.88 and its 200-day moving average price is $17.85. The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of 10.18. Labrador Iron Ore Royalty Corporation has a one year low of $12.89 and a one year high of $21.41.
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In related news, Director Duncan Newton Rowell Jackman acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought 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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