Labrador Iron Ore Royalty Corporation (TSE:LIF) had its target price lifted by equities researchers at Royal Bank Of Canada from C$23.00 to C$25.00 in a research report issued to clients and investors on Wednesday, November 8th. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 11.66% from the stock’s previous close.
Several other analysts also recently commented on LIF. Scotiabank reiterated an “outperform” rating and issued a C$24.50 target price on shares of Labrador Iron Ore Royalty in a report on Tuesday, October 17th. BMO Capital Markets increased their target price on shares of Labrador Iron Ore Royalty from C$17.00 to C$18.00 in a report on Tuesday, September 26th. Eight Capital restated a “neutral” rating on shares of Labrador Iron Ore Royalty in a research report on Thursday, August 17th. Finally, CSFB upgraded shares of Labrador Iron Ore Royalty from an “underperform” rating to an “outperform” rating and increased their price target for the company from C$16.50 to C$20.00 in a research report on Thursday, August 3rd.
Shares of Labrador Iron Ore Royalty (LIF) traded down C$0.18 during midday trading on Wednesday, reaching C$22.39. 119,274 shares of the company traded hands, compared to its average volume of 237,947. Labrador Iron Ore Royalty has a fifty-two week low of C$15.10 and a fifty-two week high of C$22.80.
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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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