Labrador Iron Ore Royalty (TSE:LIF) Announces Earnings Results

Labrador Iron Ore Royalty (TSE:LIF) issued its quarterly earnings data on Monday. The company reported C$0.21 earnings per share for the quarter, FiscalAI reports. Labrador Iron Ore Royalty had a return on equity of 15.70% and a net margin of 60.64%.The firm had revenue of C$35.75 million during the quarter.

Labrador Iron Ore Royalty Stock Performance

LIF stock opened at C$28.00 on Tuesday. The stock’s fifty day moving average is C$29.35 and its two-hundred day moving average is C$29.64. The stock has a market capitalization of C$1.79 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 0.94 and a beta of 0.34. Labrador Iron Ore Royalty has a 1 year low of C$26.21 and a 1 year high of C$31.97.

Analyst Ratings Changes

Several brokerages have weighed in on LIF. Scotiabank raised their price objective on shares of Labrador Iron Ore Royalty from C$28.00 to C$30.00 in a report on Thursday, January 8th. TD Securities decreased their price objective on shares of Labrador Iron Ore Royalty from C$30.00 to C$29.00 and set a “hold” rating for the company in a report on Friday, March 13th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Labrador Iron Ore Royalty presently has a consensus rating of “Hold” and an average target price of C$29.50.

Labrador Iron Ore Royalty Company Profile

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.