Labrador Iron Ore Royalty (TSE:LIF) Shares Cross Above 200 Day Moving Average - Time to Sell?

Labrador Iron Ore Royalty Co. (TSE:LIF - Get Free Report)'s share price 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 changing hands.

Analyst Ratings Changes

Separately, Scotiabank lifted their target price 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 firm has a market cap of C$1.99 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.94 and a beta of 1.10. The business's 50-day simple moving average is C$31.00 and its 200 day simple moving average is C$30.32.

Labrador Iron Ore Royalty (TSE:LIF - Get Free Report) last posted its 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 business had revenue of C$53.13 million during the quarter. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 9.03%. The ex-dividend date of this dividend is Friday, September 27th. Labrador Iron Ore Royalty's payout ratio is currently 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.