Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Should You Buy?

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $11.33, but opened at $11.70. Freehold Royalties shares last traded at $11.4220, with a volume of 931 shares traded.

Wall Street Analyst Weigh In

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

Freehold Royalties Stock Down 0.2%

The firm has a market capitalization of $1.88 billion and a price-to-earnings ratio of 29.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.73. The business’s 50 day moving average is $12.48 and its 200-day moving average is $12.15.

Freehold Royalties (OTCMKTS:FRHLF) last issued its quarterly earnings results 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. Freehold Royalties had a net margin of 29.91% and a return on equity of 8.84%. The firm had revenue of $55.93 million during the quarter, compared to the consensus estimate of $55.95 million.

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.