Shares of Labrador Iron Ore Royalty Co. (TSE:LIF – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$30.32 and traded as high as C$31.28. Labrador Iron Ore Royalty shares last traded at C$30.99, with a volume of 200,734 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Scotiabank lifted their price target on shares of Labrador Iron Ore Royalty from C$31.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th.
Get Our Latest Report on Labrador Iron Ore Royalty
Labrador Iron Ore Royalty Price Performance
Labrador Iron Ore Royalty (TSE:LIF – Get Free Report) last issued its 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 net margin of 99.70% and a return on equity of 31.89%. The business had revenue of C$53.13 million for the quarter. On average, equities research analysts expect that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current year.
Labrador Iron Ore Royalty Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date of this dividend is Friday, September 27th. Labrador Iron Ore Royalty’s dividend payout ratio is presently 81.33%.
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.
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