Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Time to Buy?

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $11.24, but opened at $11.89. Freehold Royalties shares last traded at $11.30, with a volume of 653 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FRHLF. Royal Bank Of Canada upgraded shares of Freehold Royalties to a “hold” rating in a research report on Monday, April 13th. Desjardins upgraded shares of Freehold Royalties to a “hold” rating in a report on Friday, March 13th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Freehold Royalties in a research note on Wednesday, May 13th. Finally, Raymond James Financial downgraded shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating in a report on Monday, March 30th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, Freehold Royalties presently has a consensus rating of “Hold”.

Freehold Royalties Stock Performance

The business’s fifty day moving average is $12.36 and its two-hundred day moving average is $12.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.85 billion and a PE ratio of 28.88.

Freehold Royalties (OTCMKTS:FRHLF) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Freehold Royalties had a net margin of 29.91% and a return on equity of 8.84%. The company 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.