Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Here’s What Happened

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $11.82, but opened at $12.59. Freehold Royalties shares last traded at $12.05, with a volume of 1,063 shares.

Analysts Set New Price Targets

FRHLF has been the topic of several recent analyst reports. Desjardins reiterated a “hold” rating on shares of Freehold Royalties in a report on Monday, November 17th. Raymond James Financial upgraded Freehold Royalties from a “market perform” rating to an “outperform” rating in a research note on Monday, December 8th. Finally, National Bankshares lowered Freehold Royalties from an “outperform” rating to a “sector perform” rating in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Freehold Royalties Price Performance

The stock has a market cap of $1.97 billion and a P/E ratio of 20.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $10.34.

Freehold Royalties (OTCMKTS:FRHLF) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Freehold Royalties had a net margin of 40.11% and a return on equity of 11.99%. The company had revenue of $54.00 million during the quarter.

Freehold Royalties Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.0642 per share. This represents a yield of 731.0%. The ex-dividend date of this dividend was Friday, November 28th. Freehold Royalties’s payout ratio is presently 136.21%.

Freehold Royalties Company Profile

Freehold Royalties Ltd is a Canadian energy company focused on the acquisition and management of petroleum and natural gas royalty interests. Rather than directly exploring or producing hydrocarbons, Freehold earns a portion of production revenue from wells operated by third parties. The company’s portfolio spans a variety of royalty structures, including freehold and other non-operated interests, which provide exposure to oil, natural gas and natural gas liquids without bearing the full costs and risks of exploration and development.

Freehold’s assets are concentrated in the Western Canadian Sedimentary Basin, with significant royalty interests in Alberta and British Columbia.