Freehold Royalties Ltd (FRU) Rating Reiterated by Scotiabank
Freehold Royalties Ltd (TSE:FRU)‘s stock had its “sector perform” rating restated by analysts at Scotiabank in a research note issued to investors on Wednesday. They currently have a C$14.50 target price on the stock. Scotiabank’s price target would suggest a potential upside of 18.27% from the stock’s previous close.
FRU has been the topic of several other reports. Cormark reaffirmed a “buy” rating on shares of Freehold Royalties in a report on Friday, October 28th. Barclays PLC lifted their target price on Freehold Royalties from C$14.00 to C$15.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. CIBC lifted their target price on Freehold Royalties from C$13.50 to C$16.00 in a report on Wednesday, October 19th. TD Securities reaffirmed a “buy” rating and issued a C$16.00 target price on shares of Freehold Royalties in a report on Friday, August 5th. Finally, Canaccord Genuity lifted their target price on Freehold Royalties from C$13.00 to C$14.25 and gave the stock a “hold” rating in a report on Wednesday, October 12th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Freehold Royalties currently has a consensus rating of “Buy” and an average price target of C$15.18.
Freehold Royalties (TSE:FRU) opened at 12.25 on Wednesday. The company’s market cap is $1.44 billion. The firm’s 50-day moving average price is $12.75 and its 200-day moving average price is $11.86. Freehold Royalties has a 52-week low of $8.29 and a 52-week high of $13.46.
The firm also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, November 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.92%.
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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