Freehold Royalties Ltd. (OTCMKTS:FRHLF) Sees Significant Increase in Short Interest

Freehold Royalties Ltd. (OTCMKTS:FRHLF) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,891,500 shares, a growth of 7.4% from the October 15th total of 3,624,300 shares. Based on an average daily volume of 61,100 shares, the days-to-cover ratio is presently 63.7 days.

Analyst Ratings Changes

Separately, Raymond James started coverage on Freehold Royalties in a report on Friday, October 18th. They set a “market perform” rating and a $16.00 price target on the stock.

Freehold Royalties Trading Up 1.9 %

OTCMKTS FRHLF opened at $10.07 on Tuesday. Freehold Royalties has a 12 month low of $9.30 and a 12 month high of $11.00. The company’s 50 day simple moving average is $10.13 and its 200 day simple moving average is $10.08.

Freehold Royalties Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.0653 dividend. The ex-dividend date was Thursday, October 31st. This represents a dividend yield of 7.76%. Freehold Royalties’s dividend payout ratio is currently 181.76%.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.