Noranda Income Fund (TSE:NIF.UN – Get Rating) had its price target raised by analysts at TD Securities from C$1.42 to C$1.98 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a "tender" rating on the stock. TD Securities' price target would suggest a potential upside of 1.02% from the stock's current price.
Noranda Income Fund Stock Performance
TSE:NIF.UN opened at C$1.96 on Friday. The stock's 50-day simple moving average is C$1.28 and its 200 day simple moving average is C$1.05. The firm has a market capitalization of C$73.48 million, a PE ratio of 5.30 and a beta of 1.58. The company has a quick ratio of 0.85, a current ratio of 2.14 and a debt-to-equity ratio of 108.27. Noranda Income Fund has a twelve month low of C$0.26 and a twelve month high of C$1.98.
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Noranda Income Fund operates as an income trust. The company owns electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Québec that produces refined zinc metal and various by-products from zinc concentrate. Its products include jumbo zinc, a product customized with alloy for steel customers to enhance the productivity of galvanizing lines; zinc shot, a product that is used to produce electro-galvanized steel for the car industry; and granulated zinc that is used in the production of fertilizers and reagents for the pulp and paper industry.
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