Labrador Iron Ore Royalty (TSE:LIF) had its price objective upped by research analysts at Scotiabank from C$41.00 to C$45.00 in a research note issued to investors on Monday, BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 23.05% from the stock’s current price.
LIF has been the topic of a number of other research reports. BMO Capital Markets boosted their target price on Labrador Iron Ore Royalty from C$32.00 to C$33.00 in a research note on Tuesday, February 23rd. Eight Capital boosted their price objective on Labrador Iron Ore Royalty to C$40.00 and gave the stock an “outperform” rating in a report on Friday, January 22nd. Raymond James downgraded shares of Labrador Iron Ore Royalty from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$38.00 to C$37.00 in a research note on Tuesday, April 6th. Royal Bank of Canada boosted their price target on shares of Labrador Iron Ore Royalty from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, March 22nd. Finally, TD Securities raised their price objective on shares of Labrador Iron Ore Royalty from C$40.00 to C$41.00 in a research report on Monday, March 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$38.14.
LIF traded down C$0.06 during mid-day trading on Monday, reaching C$36.57. 118,273 shares of the stock were exchanged, compared to its average volume of 392,598. Labrador Iron Ore Royalty has a 1 year low of C$17.02 and a 1 year high of C$40.76. The stock has a market capitalization of C$2.34 billion and a PE ratio of 10.32. The company has a 50 day moving average price of C$37.79 and a two-hundred day moving average price of C$31.50.
Labrador Iron Ore Royalty 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 at Labrador City, Newfoundland and Labrador. IOC produces seaborne iron ore pellets; and produces and processes iron ore concentrate and pellets.
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