Labrador Iron Ore Royalty (TSE:LIF) had its price target boosted by investment analysts at BMO Capital Markets from C$18.00 to C$21.00 in a report released on Monday. BMO Capital Markets’ target price would suggest a potential downside of 18.73% from the company’s current price.
Other analysts have also issued research reports about the company. Scotiabank raised their price target on Labrador Iron Ore Royalty from C$24.50 to C$25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 7th. Royal Bank of Canada raised their price target on Labrador Iron Ore Royalty from C$23.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th.
Shares of Labrador Iron Ore Royalty (TSE LIF) traded up C$1.02 on Monday, reaching C$25.84. The company’s stock had a trading volume of 271,881 shares, compared to its average volume of 237,524. Labrador Iron Ore Royalty has a 1-year low of C$15.10 and a 1-year high of C$25.50.
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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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