Labrador Iron Ore Royalty Co. (TSE:LIF – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$33.59 and last traded at C$33.55, with a volume of 66766 shares changing hands. The stock had previously closed at C$32.81.
Wall Street Analyst Weigh In
Separately, Scotiabank cut their price target on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research note on Monday, August 19th.
View Our Latest Stock Report on Labrador Iron Ore Royalty
Labrador Iron Ore Royalty Price Performance
Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported C$0.78 earnings per share (EPS) for the quarter. Labrador Iron Ore Royalty had a return on equity of 31.89% and a net margin of 99.70%. The business had revenue of C$53.13 million during the quarter. As a group, equities research analysts anticipate that Labrador Iron Ore Royalty Co. will post 3.7574257 EPS for the current year.
Labrador Iron Ore Royalty Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 8.27%. The ex-dividend date is Friday, September 27th. Labrador Iron Ore Royalty’s payout ratio is currently 89.67%.
Labrador Iron Ore Royalty Company Profile
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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