Labrador Iron Ore Royalty (TSE:LIF) Stock Passes Below 200 Day Moving Average of $30.68

Labrador Iron Ore Royalty Co. (TSE:LIF) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$30.68 and traded as low as C$29.84. Labrador Iron Ore Royalty shares last traded at C$29.95, with a volume of 193,498 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on LIF. Scotiabank increased their price target on shares of Labrador Iron Ore Royalty from C$30.00 to C$32.00 in a research report on Thursday, May 30th. TD Securities reduced their price target on shares of Labrador Iron Ore Royalty from C$37.00 to C$35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th.

Labrador Iron Ore Royalty Stock Up 0.5 %

The business’s 50-day simple moving average is C$29.90 and its 200 day simple moving average is C$30.68. The firm has a market capitalization of C$1.92 billion, a P/E ratio of 9.48, a PEG ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last released its quarterly earnings data on Wednesday, May 8th. The company reported C$0.93 earnings per share for the quarter. The firm had revenue of C$56.66 million during the quarter. Labrador Iron Ore Royalty had a return on equity of 30.18% and a net margin of 96.37%. Sell-side analysts predict that Labrador Iron Ore Royalty Co. will post 3.375 earnings per share for the current year.

Labrador Iron Ore Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 14.69%. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.45. Labrador Iron Ore Royalty’s dividend payout ratio is 79.11%.

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.