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

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $12.18, but opened at $13.08. Freehold Royalties shares last traded at $12.15, with a volume of 9,931 shares.

Analyst Ratings Changes

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

Freehold Royalties Stock Down 0.2%

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.73 and a quick ratio of 1.73. The firm’s 50-day simple moving average is $12.02 and its two-hundred day simple moving average is $12.22. The company has a market capitalization of $1.99 billion and a price-to-earnings ratio of 31.17.

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

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.