Freehold Royalties (TSE:FRU) Sets New 12-Month High Following Analyst Upgrade

Freehold Royalties Ltd. (TSE:FRU)’s share price reached a new 52-week high during trading on Monday after National Bank Financial raised their price target on the stock to C$10.00. National Bank Financial currently has an outperform rating on the stock. Freehold Royalties traded as high as C$9.40 and last traded at C$9.31, with a volume of 250501 shares traded. The stock had previously closed at C$8.96.

Several other equities research analysts have also commented on FRU. Royal Bank of Canada upped their price objective on Freehold Royalties from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 12th. Acumen Capital increased their target price on Freehold Royalties from C$10.00 to C$10.75 and gave the company a “na” rating in a research report on Wednesday, May 12th. Cormark increased their target price on Freehold Royalties from C$7.75 to C$10.00 in a research report on Tuesday, March 9th. Scotiabank increased their target price on Freehold Royalties from C$9.00 to C$9.50 in a research report on Wednesday, May 12th. Finally, National Bankshares increased their target price on Freehold Royalties from C$9.00 to C$10.00 in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of C$10.23.

The company has a 50 day moving average of C$7.89 and a 200 day moving average of C$6.32. The company has a debt-to-equity ratio of 14.39, a quick ratio of 0.25 and a current ratio of 1.40. The stock has a market capitalization of C$1.25 billion and a price-to-earnings ratio of -79.17.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 15th will be paid a $0.04 dividend. This is an increase from Freehold Royalties’s previous monthly dividend of $0.03. This represents a $0.48 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Friday, May 28th. Freehold Royalties’s dividend payout ratio is currently -175.00%.

Freehold Royalties Company Profile (TSE:FRU)

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada and the United States. The company holds approximately 6.7 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 11,000 producing wells and receives royalty from 300 industry operators.

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