Labrador Iron Ore Royalty (TSE:LIF) Price Target Raised to C$30.00

Labrador Iron Ore Royalty (TSE:LIF) had its price objective lifted by Scotiabank from C$28.00 to C$30.00 in a research note released on Thursday morning,BayStreet.CA reports.

Labrador Iron Ore Royalty Stock Performance

Shares of LIF stock opened at C$30.87 on Thursday. The firm has a market cap of C$1.98 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.94 and a beta of 0.56. The firm’s 50 day moving average price is C$29.85 and its 200-day moving average price is C$28.45. Labrador Iron Ore Royalty has a one year low of C$25.85 and a one year high of C$31.16.

Labrador Iron Ore Royalty (TSE:LIF) last posted its earnings results on Thursday, November 6th. The company reported C$0.47 earnings per share for the quarter. Labrador Iron Ore Royalty had a net margin of 94.67% and a return on equity of 29.05%. The firm had revenue of C$43.85 million during the quarter. As a group, research analysts predict that Labrador Iron Ore Royalty will post 3.7420091 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephen Douglas Pearce bought 2,000 shares of the stock in a transaction that occurred on Thursday, November 27th. The stock was bought at an average cost of C$29.71 per share, for a total transaction of C$59,420.00. Following the acquisition, the insider directly owned 2,000 shares of the company’s stock, valued at C$59,420. The trade was a ∞ increase in their position. 0.08% of the stock is owned by company insiders.

About Labrador Iron Ore Royalty

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.