Shares of Labrador Iron Ore Royalty Co. (TSE:LIF – Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$31.57 and traded as high as C$32.07. Labrador Iron Ore Royalty shares last traded at C$31.67, with a volume of 120,035 shares changing hands.
Analyst Upgrades and Downgrades
Separately, BMO Capital Markets reduced their price objective on Labrador Iron Ore Royalty from C$32.00 to C$30.00 in a research note on Wednesday, October 18th.
Labrador Iron Ore Royalty Stock Up 1.0 %
Labrador Iron Ore Royalty Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, December 29th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.80 annualized dividend and a yield of 5.68%. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is presently 90.75%.
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, and iron ore concentrate, as well as seaborne iron ore pellets.
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