Labrador Iron Ore Royalty (TSE:LIF) Stock Price Passes Above Two Hundred Day Moving Average of $29.77

Labrador Iron Ore Royalty Co. (TSE:LIFGet Rating)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.77 and traded as high as C$32.28. Labrador Iron Ore Royalty shares last traded at C$31.97, with a volume of 282,562 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Labrador Iron Ore Royalty from C$32.00 to C$33.00 in a research note on Thursday, October 13th. Royal Bank of Canada cut their price target on shares of Labrador Iron Ore Royalty from C$39.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 9th. Finally, Raymond James dropped their price objective on shares of Labrador Iron Ore Royalty from C$35.00 to C$34.00 and set a “market perform” rating on the stock in a research note on Monday, November 7th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Labrador Iron Ore Royalty presently has a consensus rating of “Hold” and a consensus target price of C$33.30.

Labrador Iron Ore Royalty Stock Up 1.8 %

The firm’s 50-day simple moving average is C$29.59 and its 200 day simple moving average is C$29.77. The stock has a market capitalization of C$2.05 billion and a P/E ratio of 6.85.

Labrador Iron Ore Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Thursday, September 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This is a boost from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 12.51%. Labrador Iron Ore Royalty’s payout ratio is 76.02%.

About Labrador Iron Ore Royalty

(Get Rating)

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. The company's primary products include standard and low silica acid, flux, direct reduction pellets, and iron ore concentrate, as well as seaborne iron ore pellets.

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