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

Key Points

• Labrador Iron Ore Royalty Co. shares fell below their 200-day moving average of C$28.14, trading as low as C$28.09 and closing at C$28.22.
• The company announced a quarterly dividend of $0.40, resulting in an annualized yield of 5.7%, despite a high dividend payout ratio of 127.12%.
• Labrador Iron Ore Royalty has a market capitalization of C$1.81 billion and operates primarily through its investment in the Iron Ore Company of Canada.

Labrador Iron Ore Royalty Co. (TSE:LIF - )'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$28.14 and traded as low as C$28.09. Labrador Iron Ore Royalty shares last traded at C$28.22, with a volume of 199,673 shares trading hands.

Labrador Iron Ore Royalty Stock Performance

The stock has a 50-day moving average of C$27.36 and a 200-day moving average of C$28.14. The firm has a market cap of C$1.81 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.94 and a beta of 0.52.

Labrador Iron Ore Royalty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Investors of record on Monday, September 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.7%. Labrador Iron Ore Royalty's dividend payout ratio is presently 127.12%.

About Labrador Iron Ore Royalty

Labrador Iron Ore Royalty Corporation is a Canadian corporation. The company generates all of its revenue from its equity investment in Iron Ore Company of Canada, (IOC) and its IOC royalty and commission interests. IOC operates a major iron mine near Labrador City, Newfoundland, and Labrador on lands leased from LIORC.

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