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

Freehold Royalties Ltd (OTCMKTS:FRHLF) gapped up prior to trading on Tuesday . The stock had previously closed at $12.04, but opened at $12.99. Freehold Royalties shares last traded at $11.9465, with a volume of 4,412 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FRHLF shares. Royal Bank Of Canada upgraded Freehold Royalties to a “hold” rating in a research report on Monday, April 13th. Raymond James Financial lowered Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research report on Monday, March 30th. Desjardins upgraded Freehold Royalties to a “hold” rating in a research report on Friday, March 13th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Freehold Royalties in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Freehold Royalties Price Performance

The stock has a 50 day simple moving average of $12.59 and a two-hundred day simple moving average of $12.10. The firm has a market cap of $1.96 billion and a PE ratio of 30.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.73.

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