Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Should You Buy?

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $11.24, but opened at $11.89. Freehold Royalties shares last traded at $11.30, with a volume of 653 shares.

Analysts Set New Price Targets

FRHLF has been the topic of a number of research analyst reports. Raymond James Financial lowered Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research report on Monday, March 30th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research report on Wednesday, May 13th. Royal Bank Of Canada raised Freehold Royalties to a “hold” rating in a research note on Monday, April 13th. Finally, Desjardins upgraded Freehold Royalties to a “hold” rating in a report on Friday, March 13th. Five equities research 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’s 50 day moving average is $12.41 and its two-hundred day moving average is $12.16. The stock has a market capitalization of $1.86 billion and a PE ratio of 29.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.73.

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

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.