Labrador Iron Ore Royalty (TSE:LIF) Stock Price Down 0.1% - Should You Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report)'s share price dropped 0.1% on Wednesday . The stock traded as low as C$29.79 and last traded at C$29.83. Approximately 158,178 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 201,909 shares. The stock had previously closed at C$29.85.

Analysts Set New Price Targets

Separately, Scotiabank cut their target price on Labrador Iron Ore Royalty from C$32.00 to C$31.00 in a research report on Wednesday, November 6th.

Labrador Iron Ore Royalty Price Performance

The firm has a market cap of C$1.91 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The company's 50 day moving average price is C$30.76 and its 200 day moving average price is C$30.27.

Labrador Iron Ore Royalty Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 9.37%. Labrador Iron Ore Royalty's dividend payout ratio is presently 81.33%.

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.