Labrador Iron Ore Royalty (TSE:LIF) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) crossed 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.

Analysts Set New Price Targets

Separately, Scotiabank upped their price target on shares of Labrador Iron Ore Royalty from C$31.00 to C$32.00 and gave the company a “sector perform” rating in a report on Tuesday, October 8th.

Labrador Iron Ore Royalty Stock Performance

The stock has a fifty day moving average of C$31.03 and a 200-day moving average of C$30.33. The company has a market cap of C$2.00 billion, a PE ratio of 9.42, a PEG ratio of 0.94 and a beta of 1.10.

Labrador Iron Ore Royalty (TSE:LIF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported C$0.78 EPS for the quarter. Labrador Iron Ore Royalty had a net margin of 99.70% and a return on equity of 31.89%. The firm had revenue of C$53.13 million for the quarter. As a group, equities analysts anticipate that Labrador Iron Ore Royalty Co. will post 3.7420091 EPS for the current fiscal year.

Labrador Iron Ore Royalty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date of this dividend is Friday, September 27th. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) 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.