Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Down – What’s Next?

Freehold Royalties Ltd (OTCMKTS:FRHLF) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.59, but opened at $11.12. Freehold Royalties shares last traded at $11.31, with a volume of 5,784 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FRHLF shares. Desjardins raised shares of Freehold Royalties to a “hold” rating in a research note on Friday, March 13th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Freehold Royalties in a report on Wednesday, May 13th. Royal Bank Of Canada upgraded Freehold Royalties to a “hold” rating in a research note on Monday, April 13th. Finally, Raymond James Financial cut Freehold Royalties from a “moderate buy” rating to a “hold” rating in a report on Monday, March 30th. Five 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 stock’s 50-day moving average price is $12.47 and its 200 day moving average price is $12.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.88 billion and a price-to-earnings ratio of 29.46.

Freehold Royalties (OTCMKTS:FRHLF) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Freehold Royalties had a net margin of 29.91% and a return on equity of 8.84%. The firm had revenue of $55.93 million for the quarter, compared to analyst estimates of $55.95 million.

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.