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Labrador Iron Ore Royalty Corp T.LIF

Alternate Symbol(s):  LIFZF

Steel Steel
Labrador Iron Ore Royalty Corporation is a Canada-based investment company. The Company holds interests in the Iron Ore Company of Canada (IOC), which is a North American producer and exporter of iron ore pellets and high-grade concentrate. The Company, through its wholly owned subsidiary, Hollinger Hanna Limited (Hollinger-Hanna), holds an approximately 15.10% equity interest in IOC. It holds an approximately 15.10% equity interest in IOC and receives approximately 7% gross overriding royalty and a 10% per ton commission on all iron ore products produced, sold, and shipped by IOC. IOC operates mine, concentrator and pellet plant at Labrador City, Newfoundland, and Labrador. The IOC mines and produces iron ore pellets and concentrates at its facilities in Labrador City, Newfoundland, and Labrador. The Company holds mining leases and mining licenses covering approximately 18,200 hectares of land near Labrador City.


TSX:LIF - Post by User

Labrador Iron Ore Royalty Corp > Ray James to $36
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Post by Dibah420on Jan 03, 2023 9:40am
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Post# 35200401

Ray James to $36

Ray James to $36
Labrador Iron Ore Royalty Price Target Raised to $36 at Raymond James

 

03 Jan 202308:42 ET  

 

08:42 AM EST, 01/03/2023 (MT Newswires) -- Raymond James raised its price target on Labrador Iron Ore Royalty Corp. (LIF.TO) to $36 from $34.

Analyst Brian MacArthur maintained a Market Perform rating on shares of the Canadian company.

MacArthur said he updated his forecast following LIF's quarter end, and said that fiscal 4Q P65 iron ore prices decreased during the period and averaged about US$111 per tonne, lower than forecasts, but with higher premiums.

"We believe Labrador Iron Ore Royalty Corporation offers investors good exposure to premium iron ore (which we believe should trade at a premium given structural changes in the steel and iron ore markets) through its interest in and royalties on Iron Ore Company of Canada (IOC)," the analyst said in a note to clients.

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