Labrador Iron Ore Royalty (TSE:LIF) PT Raised to C$32.00 at Scotiabank

Labrador Iron Ore Royalty (TSE:LIF) had its target price raised by Scotiabank from C$31.00 to C$32.00 in a report released on Tuesday morning, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Labrador Iron Ore Royalty Stock Performance

Shares of TSE LIF opened at C$32.43 on Tuesday. The stock has a market cap of C$2.08 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.94 and a beta of 1.10. Labrador Iron Ore Royalty has a fifty-two week low of C$28.48 and a fifty-two week high of C$33.97. The firm’s 50-day simple moving average is C$30.67 and its 200 day simple moving average is C$30.13.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.78 EPS for the quarter. The firm had revenue of C$53.13 million during the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. On average, sell-side analysts predict that Labrador Iron Ore Royalty will post 3.7367816 EPS for the current year.

Labrador Iron Ore Royalty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 8.63%. Labrador Iron Ore Royalty’s payout ratio is 84.38%.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets; iron ore concentrate; and seaborne iron ore pellets.