- Labrador Iron Ore’s first-quarter earnings per share (EPS) outperformed estimates, with an EPS of C$0.93 compared to last year’s C$0.68.
- The estimated EPS was C$0.79, indicating a significant achievement for the company in this quarter.
- Revenue for this quarter was reported at C$56.7 million, which is a 20% increase year-on-year.
- This revenue also surpassed estimates, which were set at C$51.1 million.
- The World Steel Association has reported a projected growth in global steel demand by 1.7% in 2024 and 1.2% in 2025.
- According to Rio Tinto’s 2024 guidance, the saleable production of the Iron Ore Company (IOC) will remain at 16.7 million to 19.6 million tonnes (including concentrate fines and pellets).
- Among the analyst ratings for Labrador Iron Ore, two recommend buying the stock, while four suggest holding onto it. There are no “sell” recommendations currently.
A look at Labrador Iron Ore Royalty Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have assigned Labrador Iron Ore Royalty Co a positive long-term outlook based on its Smart Scores. With a top score of 5 for Dividend, investors can expect strong returns in the form of dividends. The company also scores well in Value, Growth, Resilience, and Momentum, showcasing a well-rounded performance in various key factors.
Labrador Iron Ore Royalty Co, an unincorporated open-ended trust, holds an overriding royalty on all iron ore products produced by Iron Ore Company of Canada. This unique business model positions the company to benefit from the production and sale of iron ore. With solid scores across critical indicators, Labrador Iron Ore Royalty Co appears to be a promising investment for those seeking steady dividends and potential growth in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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