Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) have received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$40.14.
LIF has been the topic of several analyst reports. Royal Bank of Canada increased their price target on shares of Labrador Iron Ore Royalty from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, March 22nd. Eight Capital lifted their target price on shares of Labrador Iron Ore Royalty from C$40.00 to C$45.00 and gave the company a “buy” rating in a report on Tuesday, April 20th. Scotiabank lifted their price target on shares of Labrador Iron Ore Royalty from C$41.00 to C$45.00 in a research note on Monday, April 12th. TD Securities increased their price objective on shares of Labrador Iron Ore Royalty from C$41.00 to C$44.00 and gave the company a “buy” rating in a research note on Wednesday, April 21st. Finally, Raymond James restated a “market perform” rating and set a C$39.00 price target (up from C$37.00) on shares of Labrador Iron Ore Royalty in a research report on Wednesday, April 21st.
Shares of TSE LIF traded up C$0.35 during midday trading on Tuesday, reaching C$42.55. 306,402 shares of the company’s stock traded hands, compared to its average volume of 375,766. The stock’s 50 day simple moving average is C$38.54 and its 200-day simple moving average is C$33.13. The company has a market cap of C$2.72 billion and a price-to-earnings ratio of 11.89. Labrador Iron Ore Royalty has a one year low of C$18.53 and a one year high of C$42.94.
The business also recently announced a quarterly dividend, which was paid on Monday, April 26th. Investors of record on Wednesday, March 31st were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 9.40%. The ex-dividend date of this dividend was Tuesday, March 30th. Labrador Iron Ore Royalty’s payout ratio is 71.83%.
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 an iron ores at Labrador City, Newfoundland and Labrador. IOC produces seaborne iron ore pellets; and sells standard and low silica acid, flux, and direct reduction pellets, as well as iron ore concentrate.
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