Labrador Iron Ore Royalty (TSE:LIF) had its target price lowered by Eight Capital from C$26.50 to C$24.00 in a research report issued on Monday. Eight Capital’s target price suggests a potential upside of 1.78% from the stock’s previous close.
A number of other brokerages have also recently issued reports on LIF. BMO Capital Markets upped their price objective on shares of Labrador Iron Ore Royalty from C$18.00 to C$21.00 in a research note on Monday, December 18th. Scotiabank upped their price objective on shares of Labrador Iron Ore Royalty from C$30.00 to C$32.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada increased their price target on shares of Labrador Iron Ore Royalty from C$29.00 to C$32.00 and gave the company an “outperform” rating in a research report on Wednesday, January 10th.
Shares of Labrador Iron Ore Royalty (TSE:LIF) traded down C$0.08 during trading on Monday, hitting C$23.58. 213,932 shares of the stock were exchanged, compared to its average volume of 217,254. Labrador Iron Ore Royalty has a 12 month low of C$15.10 and a 12 month high of C$28.55. The stock has a market cap of $1,510.00, a PE ratio of 9.59 and a beta of 1.22.
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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