Labrador Iron Ore Royalty (TSE:LIF) Price Target Lowered to C$36.00 at Royal Bank of Canada

Labrador Iron Ore Royalty (TSE:LIF) had its target price decreased by Royal Bank of Canada from C$38.00 to C$36.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 23.16% from the company’s previous close.

Labrador Iron Ore Royalty Price Performance

Shares of LIF stock traded up C$0.30 on Thursday, reaching C$29.23. 210,259 shares of the company were exchanged, compared to its average volume of 244,206. Labrador Iron Ore Royalty has a one year low of C$28.40 and a one year high of C$33.97. The company has a market cap of C$1.88 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.94 and a beta of 1.10. The company has a 50-day moving average of C$30.28 and a 200-day moving average of C$30.38.

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.