Labrador Iron Ore Royalty (TSE:LIF) Shares Down 0.1% – Here’s What Happened

Shares of Labrador Iron Ore Royalty Co. (TSE:LIF) were down 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 trading, a decline of 22% from the average daily volume of 201,909 shares. The stock had previously closed at C$29.85.

Wall Street Analyst Weigh In

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

Labrador Iron Ore Royalty Trading Down 0.1 %

The stock has a market capitalization of C$1.91 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.94 and a beta of 1.10. The company’s 50 day moving average is C$30.76 and its 200 day moving average is C$30.27.

Labrador Iron Ore Royalty Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date of this dividend was Friday, September 27th. Labrador Iron Ore Royalty’s dividend payout ratio (DPR) is currently 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.