Labrador Iron Ore Royalty (TSE:LIF) Price Target Raised to C$32.00

Labrador Iron Ore Royalty (TSE:LIF) had its price target increased by Scotiabank from C$31.00 to C$32.00 in a report published on Tuesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Labrador Iron Ore Royalty Trading Down 0.2 %

Shares of LIF stock opened at C$32.43 on Tuesday. The business’s 50-day moving average price is C$30.67 and its 200-day moving average price is C$30.13. Labrador Iron Ore Royalty has a 12 month low of C$28.48 and a 12 month high of C$33.97. The firm has a market capitalization of C$2.08 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last posted its earnings results on Tuesday, August 6th. The company reported C$0.78 earnings per share for the quarter. The firm had revenue of C$53.13 million for the quarter. Labrador Iron Ore Royalty had a net margin of 99.70% and a return on equity of 31.89%. On average, sell-side analysts predict that Labrador Iron Ore Royalty will post 3.7367816 earnings per share for the current fiscal year.

Labrador Iron Ore Royalty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a $0.70 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.63%. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is presently 84.38%.

About Labrador Iron Ore Royalty

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; iron ore concentrate; and seaborne iron ore pellets.