Freehold Royalties (OTCMKTS:FRHLF) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Freehold Royalties Ltd (OTCMKTS:FRHLF) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.89 and traded as high as $13.00. Freehold Royalties shares last traded at $12.87, with a volume of 52,400 shares.

Analyst Upgrades and Downgrades

Separately, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Freehold Royalties Stock Performance

The firm has a market capitalization of $2.11 billion and a PE ratio of 21.10. The business has a 50-day simple moving average of $11.89 and a 200-day simple moving average of $12.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.73 and a quick ratio of 1.73.

Freehold Royalties (OTCMKTS:FRHLF) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. The business had revenue of $70.61 million for the quarter, compared to analyst estimates of $70.60 million. Freehold Royalties had a net margin of 43.59% and a return on equity of 13.92%.

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.