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

Freehold Royalties Ltd (OTCMKTS:FRHLF) gapped up before the market opened on Thursday . The stock had previously closed at $11.24, but opened at $11.89. Freehold Royalties shares last traded at $11.30, with a volume of 653 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Raymond James Financial cut Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research note on Monday, March 30th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research note on Wednesday, May 13th. Royal Bank Of Canada raised shares of Freehold Royalties to a “hold” rating in a report on Monday, April 13th. Finally, Desjardins upgraded shares of Freehold Royalties to a “hold” rating in a report on Friday, March 13th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Freehold Royalties has a consensus rating of “Hold”.

Freehold Royalties Stock Up 1.0%

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 stock has a market cap of $1.86 billion and a PE ratio of 29.10. The firm has a fifty day moving average of $12.41 and a 200 day moving average of $12.16.

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

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.