Shares of Labrador Iron Ore Royalty Co. (TSE:LIF – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$29.86 and traded as high as C$31.50. Labrador Iron Ore Royalty shares last traded at C$31.50, with a volume of 332,936 shares.
Wall Street Analyst Weigh In
Separately, Scotiabank cut their target price on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research note on Monday, August 19th.
Get Our Latest Stock Analysis on LIF
Labrador Iron Ore Royalty Trading Down 2.5 %
Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported C$0.78 EPS for the quarter. Labrador Iron Ore Royalty had a net margin of 99.70% and a return on equity of 31.89%. The firm had revenue of C$53.13 million during the quarter. Research analysts anticipate that Labrador Iron Ore Royalty Co. will post 3.7574257 earnings per share for the current fiscal year.
Labrador Iron Ore Royalty Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 9.12%. The ex-dividend date is Friday, September 27th. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is presently 89.67%.
About Labrador Iron Ore Royalty
Labrador Iron Ore Royalty Corporation, through its subsidiary, Hollinger-Hanna Limited, holds a 15.10% equity interest in Iron Ore Company of Canada (IOC) that produces and processes iron ores at Labrador City, Newfoundland and Labrador. Its primary products include standard and low silica acid, flux, and direct reduction pellets; iron ore concentrate; and seaborne iron ore pellets.
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