Shares of Labrador Iron Ore Royalty Co. (TSE:LIF – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$29.86 and traded as high as C$31.50. Labrador Iron Ore Royalty shares last traded at C$31.50, with a volume of 332,936 shares.
Analyst Upgrades and Downgrades
Separately, Scotiabank dropped their price target on shares of Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research note on Monday, August 19th.
View Our Latest Analysis on Labrador Iron Ore Royalty
Labrador Iron Ore Royalty Trading Up 3.4 %
Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported C$0.78 earnings per share (EPS) for the quarter. The company had revenue of C$53.13 million during the quarter. Labrador Iron Ore Royalty had a net margin of 99.70% and a return on equity of 31.89%. As a group, analysts anticipate that Labrador Iron Ore Royalty Co. will post 3.7574257 EPS for the current year.
Labrador Iron Ore Royalty Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 8.89%. Labrador Iron Ore Royalty’s dividend payout ratio is currently 89.67%.
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.
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