Freehold Royalties (TSE:FRU) Sets New 12-Month High – Here’s What Happened

Freehold Royalties Ltd. (TSE:FRU) reached a new 52-week high during trading on Tuesday . The company traded as high as C$17.05 and last traded at C$16.97, with a volume of 95830 shares. The stock had previously closed at C$16.86.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FRU. Canaccord Genuity Group lifted their price objective on shares of Freehold Royalties from C$16.00 to C$17.00 in a report on Friday, November 14th. Raymond James Financial raised shares of Freehold Royalties from a “hold” rating to a “moderate buy” rating and lifted their price target for the company from C$14.50 to C$17.50 in a research note on Tuesday, December 9th. Scotiabank boosted their price target on Freehold Royalties from C$15.00 to C$16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce raised their price objective on Freehold Royalties from C$14.50 to C$15.25 in a report on Friday, November 14th. Finally, National Bank Financial cut Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 target price for the company. in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Freehold Royalties has a consensus rating of “Hold” and a consensus target price of C$15.79.

Freehold Royalties Stock Performance

The business’s 50-day moving average price is C$15.68 and its 200-day moving average price is C$14.52. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 22.91. The stock has a market cap of C$2.78 billion, a PE ratio of 21.18, a P/E/G ratio of -0.92 and a beta of 0.68.

About Freehold Royalties

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.