Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Update

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 327,200 shares, a growth of 163.7% from the September 15th total of 124,100 shares. Based on an average daily trading volume, of 46,800 shares, the short-interest ratio is presently 7.0 days.

OTCMKTS FRHLF remained flat at $$9.20 during trading hours on Thursday. The company’s stock had a trading volume of 54,184 shares, compared to its average volume of 31,069. The company’s 50 day moving average is $7.71 and its 200 day moving average is $7.31. Freehold Royalties has a fifty-two week low of $2.55 and a fifty-two week high of $9.59.

The firm also recently disclosed a dividend, which will be paid on Friday, October 15th. Stockholders of record on Wednesday, September 29th will be paid a $0.4731 dividend. This represents a dividend yield of 6.04%. The ex-dividend date is Tuesday, September 28th.

A number of brokerages have recently weighed in on FRHLF. BMO Capital Markets upped their target price on Freehold Royalties from C$11.00 to C$12.00 and gave the stock a “market perform” rating in a research report on Thursday, September 23rd. Royal Bank of Canada increased their price target on Freehold Royalties from C$12.50 to C$13.50 and gave the company an “outperform” rating in a research report on Thursday, September 23rd. Desjardins increased their price target on Freehold Royalties from C$13.50 to C$15.00 and gave the company a “buy” rating in a research report on Friday, September 24th. National Bank Financial increased their price target on Freehold Royalties from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Friday, September 24th. Finally, Scotiabank upped their price objective on Freehold Royalties from C$11.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.65.

About Freehold Royalties

Freehold Royalties Ltd. operates as a dividend-paying oil and gas royalty company. The firm engages in acquiring and managing oil and gas royalties. Its production comes from royalty assets, which include mineral title and gross overriding royalties. The company was founded in 1996 and is headquartered in Calgary, Canada.

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