Labrador Iron Ore Royalty (TSE:LIF) Given New C$31.00 Price Target at Scotiabank

Labrador Iron Ore Royalty (TSE:LIF) had its price target cut by Scotiabank from C$32.00 to C$31.00 in a report issued on Wednesday, BayStreet.CA reports.

Labrador Iron Ore Royalty Stock Performance

LIF stock opened at C$29.66 on Wednesday. Labrador Iron Ore Royalty has a one year low of C$28.48 and a one year high of C$33.97. The firm’s fifty day moving average is C$31.17 and its 200 day moving average is C$30.37. The firm has a market cap of C$1.90 billion, a PE ratio of 8.93, a P/E/G ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last announced its quarterly 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 during the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. Research analysts predict that Labrador Iron Ore Royalty will post 3.7420091 earnings per share for the current fiscal year.

Labrador Iron Ore Royalty Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 9.44%. The ex-dividend date was Friday, September 27th. Labrador Iron Ore Royalty’s dividend payout ratio is presently 81.33%.

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.