Scotiabank Cuts Labrador Iron Ore Royalty (TSE:LIF) Price Target to C$31.00

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

Labrador Iron Ore Royalty Trading Down 3.5 %

Shares of LIF opened at C$29.66 on Wednesday. The company’s 50-day moving average price is C$31.17 and its 200 day moving average price is C$30.37. 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 cap of C$1.90 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$0.78 EPS for the quarter. Labrador Iron Ore Royalty had a net margin of 99.70% and a return on equity of 31.89%. The firm had revenue of C$53.13 million for the quarter. Equities research analysts forecast that Labrador Iron Ore Royalty will post 3.7420091 earnings per share for the current year.

Labrador Iron Ore Royalty Cuts Dividend

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

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 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.