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 Thursday . The stock had previously closed at $12.74, but opened at $13.44. Freehold Royalties shares last traded at $12.77, with a volume of 1,794 shares changing hands.

Analyst Upgrades and Downgrades

FRHLF has been the topic of a number of recent research reports. Raymond James Financial cut Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research note on Monday, March 30th. Desjardins upgraded Freehold Royalties to a “hold” rating in a research note on Friday, March 13th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research note on Wednesday. Finally, Royal Bank Of Canada upgraded Freehold Royalties to a “hold” rating in a research note on Monday, April 13th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Freehold Royalties Price Performance

The firm has a market capitalization of $2.12 billion and a P/E ratio of 33.21. The business has a fifty day moving average of $12.66 and a 200-day moving average of $11.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.41 and a current ratio of 1.41.

Freehold Royalties (OTCMKTS:FRHLF) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $55.93 million during the quarter, compared to analyst estimates of $55.95 million. Freehold Royalties had a return on equity of 8.80% and a net margin of 29.91%.

About Freehold Royalties

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.