Labrador Iron Ore Royalty (TSE:LIF) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Tuesday, Price Targets.com reports. They currently have a C$37.00 price target on the stock, down from their previous price target of C$38.00. Raymond James’ price target points to a potential upside of 2.75% from the company’s previous close. Raymond James also issued estimates for Labrador Iron Ore Royalty’s Q1 2021 earnings at $1.50 EPS, Q2 2021 earnings at $1.38 EPS, Q3 2021 earnings at $1.21 EPS, FY2021 earnings at $4.98 EPS, Q1 2022 earnings at $1.06 EPS, Q2 2022 earnings at $0.88 EPS, Q3 2022 earnings at $0.88 EPS, Q4 2022 earnings at $0.71 EPS and FY2022 earnings at $3.53 EPS.
A number of other analysts have also commented on LIF. Scotiabank lifted their price objective on Labrador Iron Ore Royalty from C$40.00 to C$41.00 in a research report on Friday, March 5th. Royal Bank of Canada boosted their price target on shares of Labrador Iron Ore Royalty from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Monday, March 22nd. BMO Capital Markets increased their price objective on shares of Labrador Iron Ore Royalty from C$32.00 to C$33.00 in a report on Tuesday, February 23rd. TD Securities lifted their target price on shares of Labrador Iron Ore Royalty from C$40.00 to C$41.00 in a report on Monday, March 8th. Finally, Eight Capital increased their price target on Labrador Iron Ore Royalty to C$40.00 and gave the company an “outperform” rating in a research note on Friday, January 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Labrador Iron Ore Royalty has an average rating of “Buy” and an average price target of C$37.57.
Shares of LIF stock opened at C$36.01 on Tuesday. The firm has a market capitalization of C$2.30 billion and a price-to-earnings ratio of 10.14. The firm’s 50 day moving average is C$37.74 and its 200-day moving average is C$31.41. Labrador Iron Ore Royalty has a 1 year low of C$17.02 and a 1 year high of C$40.76.
Labrador Iron Ore Royalty (TSE:LIF) last announced its quarterly earnings data on Thursday, March 4th. The company reported C$1.16 EPS for the quarter, beating the Zacks’ consensus estimate of C$1.15 by C$0.01. The firm had revenue of C$54.40 million during the quarter. Equities research analysts anticipate that Labrador Iron Ore Royalty will post 3.4499998 earnings per share for the current year.
Labrador Iron Ore Royalty Company Profile
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 at Labrador City, Newfoundland and Labrador. IOC produces seaborne iron ore pellets; and produces and processes iron ore concentrate and pellets.
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