Freehold Royalties Ltd (FRU) Given New C$14.25 Price Target at Canaccord Genuity
Freehold Royalties Ltd (TSE:FRU) had its price objective hoisted by research analysts at Canaccord Genuity from C$13.00 to C$14.25 in a research note issued to investors on Wednesday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective points to a potential upside of 7.39% from the stock’s previous close.
A number of other research firms have also commented on FRU. Desjardins set a C$14.00 price target on shares of Freehold Royalties in a research report on Tuesday, June 28th. Raymond James Financial Inc. reaffirmed an “outperform” rating and issued a C$15.00 target price on shares of Freehold Royalties in a research note on Monday, September 19th. TD Securities reaffirmed a “buy” rating and issued a C$16.00 target price on shares of Freehold Royalties in a research note on Friday, August 5th. BMO Capital Markets boosted their target price on shares of Freehold Royalties from C$14.00 to C$16.00 in a research note on Thursday, June 30th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a C$14.50 target price on shares of Freehold Royalties in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of C$14.50.
Shares of Freehold Royalties (TSE:FRU) traded down 1.28% during mid-day trading on Wednesday, reaching $13.10. 102,190 shares of the company were exchanged. The stock’s market capitalization is $1.54 billion. Freehold Royalties has a 12 month low of $8.29 and a 12 month high of $13.37. The firm has a 50-day moving average price of $11.87 and a 200 day moving average price of $11.55.
The company also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 17th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Wednesday, September 28th.
About Freehold Royalties
Freehold Royalties Ltd. is a Canada-based company engaged in the development and production of oil and natural gas, predominantly in western Canada. The Company’s primary focus is acquiring and managing oil and natural gas royalties. The Company manages a non-government portfolio of oil and natural gas royalties in Canada.
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