Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Still a Buy?

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s stock price gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

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

Freehold Royalties Trading Down 0.8%

The company has a 50 day simple moving average of $12.59 and a 200 day simple moving average of $12.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $1.96 billion and a PE ratio of 30.62.

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

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.