TD Securities Issues Pessimistic Forecast for Labrador Iron Ore Royalty (TSE:LIF) Stock Price

Labrador Iron Ore Royalty (TSE:LIF) had its price target decreased by research analysts at TD Securities from C$30.00 to C$29.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price objective indicates a potential upside of 4.69% from the company’s current price.

Separately, Scotiabank raised their price objective on Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$29.50.

Labrador Iron Ore Royalty Trading Down 2.7%

LIF traded down C$0.77 during midday trading on Friday, reaching C$27.70. The company’s stock had a trading volume of 228,244 shares, compared to its average volume of 200,791. Labrador Iron Ore Royalty has a 1 year low of C$25.85 and a 1 year high of C$31.97. The stock’s 50-day moving average is C$30.52 and its 200-day moving average is C$29.40. The firm has a market capitalization of C$1.77 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.94 and a beta of 0.33.

Labrador Iron Ore Royalty (TSE:LIF) last released its earnings results on Wednesday, March 11th. The company reported C$0.35 earnings per share (EPS) for the quarter. Labrador Iron Ore Royalty had a net margin of 60.30% and a return on equity of 17.24%. The firm had revenue of C$39.46 million during the quarter. As a group, equities research analysts forecast that Labrador Iron Ore Royalty will post 3.7420091 earnings per share for the current fiscal year.

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.