Freehold Royalties Ltd (FRU) Director Tom Mullane Purchases 7,500 Shares of Stock

Freehold Royalties Ltd (TSE:FRU) Director Tom Mullane bought 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were purchased at an average cost of C$8.60 per share, for a total transaction of C$64,500.00.

TSE FRU traded down C$0.10 during trading hours on Friday, hitting C$8.62. 1,064,500 shares of the company were exchanged, compared to its average volume of 303,906. The company has a debt-to-equity ratio of 11.46, a quick ratio of 1.98 and a current ratio of 1.98. Freehold Royalties Ltd has a 52-week low of C$8.42 and a 52-week high of C$15.42.

The business also recently declared a monthly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 17th will be issued a dividend of $0.0525 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.63 annualized dividend and a yield of 7.31%. Freehold Royalties’s dividend payout ratio (DPR) is 643.75%.

Several equities research analysts have weighed in on FRU shares. CIBC cut their price target on Freehold Royalties from C$14.50 to C$13.00 in a report on Friday, November 16th. Canaccord Genuity cut their price target on Freehold Royalties from C$17.00 to C$15.50 in a report on Wednesday, October 24th. National Bank Financial cut their price target on Freehold Royalties from C$18.50 to C$17.00 and set an “outperform” rating on the stock in a report on Thursday, November 15th. Raymond James downgraded Freehold Royalties from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$16.75 to C$16.00 in a report on Friday, August 3rd. Finally, Desjardins cut their price target on Freehold Royalties from C$15.00 to C$13.50 in a report on Thursday, November 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$15.00.

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About Freehold Royalties

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada. It holds approximately 6.1 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 42,000 wells and receives royalty from industry operators.

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