Labrador Iron Ore Royalty (TSE:LIF) Stock Price Crosses Below Two Hundred Day Moving Average of $30.62

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.62 and traded as low as C$29.05. Labrador Iron Ore Royalty shares last traded at C$29.10, with a volume of 1,202,036 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LIF shares. TD Securities dropped their price objective on Labrador Iron Ore Royalty from C$37.00 to C$35.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Scotiabank lifted their price target on Labrador Iron Ore Royalty from C$30.00 to C$32.00 in a report on Thursday, May 30th.

Labrador Iron Ore Royalty Trading Down 1.1 %

The stock’s 50 day moving average price is C$29.87 and its 200 day moving average price is C$30.62. The firm has a market cap of C$1.86 billion, a PE ratio of 9.21, a P/E/G ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last issued its earnings results on Wednesday, May 8th. The company reported C$0.93 EPS for the quarter. The business had revenue of C$56.66 million for the quarter. Labrador Iron Ore Royalty had a net margin of 96.37% and a return on equity of 30.18%. Analysts forecast that Labrador Iron Ore Royalty Co. will post 3.375 earnings per share for the current year.

Labrador Iron Ore Royalty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 15.12%. This is a positive change from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, June 28th. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is presently 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.