Labrador Iron Ore Royalty (TSE:LIF) Hits New 1-Year High – Here’s Why

Labrador Iron Ore Royalty Co. (TSE:LIF) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$31.08 and last traded at C$31.08, with a volume of 34146 shares. The stock had previously closed at C$30.97.

Wall Street Analyst Weigh In

Separately, Scotiabank raised their price objective on Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a research report on Thursday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$33.00.

Labrador Iron Ore Royalty Trading Up 0.6%

The firm has a market cap of C$1.98 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 0.94 and a beta of 0.56. The stock has a fifty day moving average price of C$29.81 and a 200 day moving average price of C$28.43.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.47 EPS for the quarter. The company had revenue of C$43.85 million during the quarter. Labrador Iron Ore Royalty had a return on equity of 29.05% and a net margin of 94.67%. On average, sell-side analysts forecast that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current year.

Insider Transactions at Labrador Iron Ore Royalty

In other Labrador Iron Ore Royalty news, insider Stephen Douglas Pearce purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 27th. The stock was acquired at an average cost of C$29.71 per share, with a total value of C$59,420.00. Following the completion of the purchase, the insider directly owned 2,000 shares in the company, valued at approximately C$59,420. This represents a ∞ increase in their position. Insiders own 0.08% of the company’s stock.

About Labrador Iron Ore Royalty

Labrador Iron Ore Royalty Corporation is a Canadian corporation. The company generates all of its revenue from its equity investment in Iron Ore Company of Canada, (IOC) and its IOC royalty and commission interests. IOC operates a major iron mine near Labrador City, Newfoundland, and Labrador on lands leased from LIORC. Directly and through its wholly-owned subsidiary, Hollinger-Hanna, LIORC owns an equity interest in IOC and receives gross overriding royalty on all iron ore products produced from the leased lands that are sold and shipped by IOC and commission on IOC’s sales of iron ore.