Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Here’s What Happened

Shares of Freehold Royalties Ltd (OTCMKTS:FRHLF) gapped up prior to trading on Friday . The stock had previously closed at $12.18, but opened at $13.08. Freehold Royalties shares last traded at $12.15, with a volume of 9,931 shares changing hands.

Analyst Upgrades and Downgrades

FRHLF has been the subject of several research reports. Royal Bank Of Canada raised Freehold Royalties to a “hold” rating in a research note on Monday, April 13th. Raymond James Financial downgraded shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Freehold Royalties has an average rating of “Hold”.

Freehold Royalties Trading Down 0.2%

The business’s 50-day moving average price is $12.02 and its two-hundred day moving average price is $12.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $1.99 billion and a price-to-earnings ratio of 31.17.

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

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.