TD Securities Reiterates “Buy” Rating for Freehold Royalties Ltd (FRU)
Freehold Royalties Ltd (TSE:FRU)‘s stock had its “buy” rating reissued by equities research analysts at TD Securities in a research report issued to clients and investors on Wednesday. They currently have a C$16.00 price objective on the stock. TD Securities’ price objective would indicate a potential upside of 30.51% from the company’s previous close.
Several other equities analysts have also issued reports on FRU. Barclays PLC raised their price target on Freehold Royalties from C$13.00 to C$14.00 in a research report on Friday, July 22nd. Scotiabank restated a “sector perform” rating and set a C$14.50 price target on shares of Freehold Royalties in a research report on Friday, August 5th. Raymond James Financial Inc. restated an “outperform” rating and set a C$15.00 price target on shares of Freehold Royalties in a research report on Monday, September 19th. Canaccord Genuity raised their price target on Freehold Royalties from C$13.00 to C$14.25 and gave the stock a “hold” rating in a research report on Wednesday, October 12th. Finally, CIBC raised their price target on Freehold Royalties from C$13.50 to C$16.00 in a research report on Wednesday, October 19th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of C$15.18.
Shares of Freehold Royalties (TSE:FRU) opened at 12.25 on Wednesday. The company’s market cap is $1.44 billion. The stock’s 50 day moving average price is $12.75 and its 200 day moving average price is $11.86. Freehold Royalties has a 12-month low of $8.29 and a 12-month high of $13.46.
The company 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 $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, November 28th.
Freehold Royalties Company Profile
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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