Labrador Iron Ore Royalty (TSE:LIF) Issues Earnings Results

Labrador Iron Ore Royalty (TSE:LIF) announced its earnings results on Wednesday. The company reported C$0.35 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$39.46 million during the quarter. Labrador Iron Ore Royalty had a return on equity of 17.24% and a net margin of 60.30%.

Labrador Iron Ore Royalty Trading Up 0.2%

Shares of TSE:LIF opened at C$30.41 on Thursday. The firm’s 50 day moving average is C$30.55 and its two-hundred day moving average is C$29.41. The firm has a market capitalization of C$1.95 billion, a P/E ratio of 17.78, a PEG ratio of 0.94 and a beta of 0.33. Labrador Iron Ore Royalty has a 52 week low of C$25.85 and a 52 week high of C$31.97.

Analyst Ratings Changes

Separately, Scotiabank raised their price target on Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a report on Thursday, January 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$33.00.

Labrador Iron Ore Royalty Company Profile

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.