Labrador Iron Ore Receives a Hold from Scotiabank

By Ryan Adsit

Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Analyst Orest Wowkodaw from Scotiabank reiterated a Hold rating on Labrador Iron Ore (TSX: LIF), with a C$20 price target.

According to TipRanks.com, Wowkodaw is a top 100 analyst with an average return of 31.4% and a 58.6% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Taseko Mines Limited, and Hudbay Minerals Inc.

Labrador Iron Ore has an analyst consensus of Moderate Buy, with a price target consensus of C$20.67.

The company has a one year high of C$20.67 and a one year low of C$11.22. Currently, Labrador Iron Ore has an average volume of 269.1K.

Labrador Iron Ore Royalty Corp. mines for iron ore, through its subsidiary, Hollinger-Hanna Ltd. and receives a gross overriding royalty and commission on all iron ore products produced, sold and shipped by Iron Ore Co. of Canada. The company was founded on July 1, 2010 and is headquartered in Toronto, Canada.

The company’s shares closed last Thursday at $18.01.