Shares of Freehold Royalties Ltd (OTCMKTS:FRHLF – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $12.74, but opened at $13.44. Freehold Royalties shares last traded at $12.77, with a volume of 1,794 shares.
Wall Street Analyst Weigh In
FRHLF has been the subject of several research reports. Raymond James Financial downgraded Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research note on Monday, March 30th. Royal Bank Of Canada upgraded Freehold Royalties to a “hold” rating in a research note on Monday, April 13th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Freehold Royalties in a research note on Wednesday. Finally, Desjardins upgraded Freehold Royalties to a “hold” rating in a research note on Friday, March 13th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Freehold Royalties currently has an average rating of “Hold”.
Check Out Our Latest Analysis on FRHLF
Freehold Royalties Trading Up 1.3%
Freehold Royalties (OTCMKTS:FRHLF – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $55.93 million for the quarter, compared to analysts’ expectations of $52.04 million. Freehold Royalties had a return on equity of 8.80% and a net margin of 29.91%.
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.
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