  We present results from three observations with the Rossi X-ray Timing
Explorer (RXTE) of LMC X-3, obtained while the source was in an extended
'low/hard' state. The data reveal a hard X-ray spectrum which is well fit by a
pure power law with photon index Gamma=1.69+/-0.02, with a source luminosity at
50 kpc of 5-16x10^{36}erg/s (2--10 keV). Strong broad-band (0.01-100 Hz) time
variability is also observed, with fractional rms amplitude 40+/-4%, plus a
quasi-periodic oscillation (QPO) peak at 0.46+/-0.02 Hz with rms amplitude
\~14%. This is the first reported observation in which the full canonical
low/hard state behavior (pure hard power law spectrum combined with strong
broad-band noise and QPO) for LMC X-3 is seen. We reanalyze several archival
RXTE observations of LMC X-3 and derive consistent spectral and timing
parameters, and determine the overall luminosity variation between high/soft
and low/hard states. The timing and spectral properties of LMC X-3 during the
recurrent low/hard states are quantitatively similar to that typically seen in
the Galactic black hole candidates.
