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

Labrador Iron Ore Royalty Co. (TSE:LIF)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LIF shares. TD Securities decreased 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 note on Wednesday, March 13th. Scotiabank lifted their price target on shares of Labrador Iron Ore Royalty from C$30.00 to C$32.00 in a research note on Thursday, May 30th.

Labrador Iron Ore Royalty Stock Down 1.1 %

The company has a market capitalization of C$1.86 billion, a P/E ratio of 9.21, a PEG ratio of 0.94 and a beta of 1.10. The stock has a fifty day simple moving average of C$29.87 and a 200-day simple moving average of C$30.62.

Labrador Iron Ore Royalty (TSE:LIF) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C$0.93 earnings per share (EPS) for the quarter. The company 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%. Analysts predict that Labrador Iron Ore Royalty Co. will post 3.375 earnings per share for the current fiscal year.

Labrador Iron Ore Royalty Increases Dividend

The firm 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 $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 15.12%. This is a boost 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 payout ratio is currently 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.