Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – What’s Next?

Shares of Freehold Royalties Ltd (OTCMKTS:FRHLF) gapped up prior to trading on Wednesday . The stock had previously closed at $12.18, but opened at $12.8250. Freehold Royalties shares last traded at $12.21, with a volume of 47,956 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FRHLF shares. Desjardins reaffirmed a “hold” rating on shares of Freehold Royalties in a research report on Monday, November 17th. Raymond James Financial raised shares of Freehold Royalties from a “market perform” rating to an “outperform” rating in a research report on Monday, December 8th. Finally, National Bankshares lowered Freehold Royalties from an “outperform” rating to a “sector perform” rating in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Freehold Royalties currently has an average rating of “Hold”.

Freehold Royalties Price Performance

The stock has a market cap of $1.97 billion and a PE ratio of 20.76. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average price is $11.11 and its 200 day moving average price is $10.29.

Freehold Royalties (OTCMKTS:FRHLF) last issued its earnings results on Thursday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $54.00 million for the quarter. Freehold Royalties had a return on equity of 11.99% and a net margin of 40.11%.

Freehold Royalties Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.0642 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 731.0%. Freehold Royalties’s dividend payout ratio is presently 134.48%.

About Freehold Royalties

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.