Labrador Iron Ore Royalty (TSE:LIF) Stock Price Crosses Below 200 Day Moving Average of $36.41

Shares of Labrador Iron Ore Royalty Co. (TSE:LIFGet Rating) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$36.41 and traded as low as C$27.22. Labrador Iron Ore Royalty shares last traded at C$28.30, with a volume of 318,306 shares.

Analysts Set New Price Targets

LIF has been the subject of several research reports. Raymond James cut their price target on Labrador Iron Ore Royalty from C$42.00 to C$39.00 and set a “market perform” rating for the company in a research note on Wednesday, July 6th. Scotiabank dropped their price objective on Labrador Iron Ore Royalty from C$41.00 to C$37.00 in a report on Thursday, July 7th. BMO Capital Markets dropped their price objective on Labrador Iron Ore Royalty from C$35.00 to C$27.50 in a report on Friday, July 15th. Eight Capital cut Labrador Iron Ore Royalty from a “buy” rating to a “neutral” rating in a report on Thursday, April 21st. Finally, TD Securities dropped their price objective on Labrador Iron Ore Royalty from C$45.00 to C$36.00 and set a “hold” rating on the stock in a report on Monday, May 9th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Labrador Iron Ore Royalty has a consensus rating of “Hold” and an average target price of C$36.75.

Labrador Iron Ore Royalty Trading Up 4.3 %

The firm has a fifty day simple moving average of C$29.95 and a two-hundred day simple moving average of C$36.41. The stock has a market cap of C$1.81 billion and a PE ratio of 5.08.

Labrador Iron Ore Royalty (TSE:LIFGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported C$0.99 earnings per share for the quarter, missing the consensus estimate of C$1.16 by C($0.17). The business had revenue of C$54.16 million during the quarter. Equities analysts forecast that Labrador Iron Ore Royalty Co. will post 3.6200001 earnings per share for the current year.

Labrador Iron Ore Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Thursday, June 30th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 12.72%. This is a positive change from Labrador Iron Ore Royalty’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, June 29th. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is presently 98.74%.

Labrador Iron Ore Royalty Company Profile

(Get Rating)

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. The company's primary products include standard and low silica acid, flux, direct reduction pellets, and iron ore concentrate, as well as seaborne iron ore pellets.

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