Labrador Iron Ore Royalty (TSE:LIF) Stock Price Crosses Below Two Hundred Day Moving Average of $29.91

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.91 and traded as low as C$29.43. Labrador Iron Ore Royalty shares last traded at C$29.46, with a volume of 410,292 shares traded.

Analyst Ratings Changes

Separately, Scotiabank cut their price target on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research report on Monday, August 19th.

Labrador Iron Ore Royalty Stock Performance

The firm has a market cap of C$1.89 billion, a P/E ratio of 8.95, a PEG ratio of 0.94 and a beta of 1.10. The stock’s 50-day moving average is C$30.04 and its 200 day moving average is C$29.91.

Labrador Iron Ore Royalty (TSE:LIF) last announced its quarterly 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 company had revenue of C$53.13 million during the quarter. On average, research analysts anticipate that Labrador Iron Ore Royalty Co. will post 3.3281075 EPS for the current year.

Labrador Iron Ore Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, June 28th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $4.40 dividend on an annualized basis and a yield of 14.94%. This is a positive change from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.45. Labrador Iron Ore Royalty’s payout ratio 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.