Labrador Iron Ore Royalty (TSE:LIF) Price Target Lowered to C$35.00 at TD Securities

Labrador Iron Ore Royalty (TSE:LIF) had its price objective decreased by equities researchers at TD Securities from C$37.00 to C$35.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 18.72% from the company’s current price.

Separately, Scotiabank reduced their price objective on shares of Labrador Iron Ore Royalty from C$34.00 to C$30.00 in a research note on Wednesday.

Labrador Iron Ore Royalty Stock Down 2.4 %

Shares of TSE LIF traded down C$0.74 during midday trading on Wednesday, hitting C$29.48. The company had a trading volume of 186,735 shares, compared to its average volume of 135,372. Labrador Iron Ore Royalty has a twelve month low of C$27.04 and a twelve month high of C$34.18. The business has a 50-day simple moving average of C$31.49 and a two-hundred day simple moving average of C$31.58. The firm has a market capitalization of C$1.89 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 0.94 and a beta of 1.14.

Labrador Iron Ore Royalty Company Profile

Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets, and iron ore concentrate, as well as seaborne iron ore pellets.