Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Update

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 699,500 shares, an increase of 290.6% from the December 15th total of 179,100 shares. Based on an average daily volume of 40,700 shares, the days-to-cover ratio is presently 17.2 days.

FRHLF traded down $0.17 during trading on Friday, hitting $9.90. The company had a trading volume of 12,702 shares, compared to its average volume of 18,211. The business has a 50-day moving average of $9.21 and a 200-day moving average of $8.37. Freehold Royalties has a 1-year low of $4.25 and a 1-year high of $10.46.

The business also recently declared a dividend, which will be paid on Monday, January 17th. Investors of record on Friday, December 31st will be issued a $0.0467 dividend. The ex-dividend date of this dividend is Thursday, December 30th. This represents a yield of 6.26%.

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Freehold Royalties from C$12.00 to C$15.00 and gave the stock a “market perform” rating in a research note on Thursday, November 11th. Royal Bank of Canada boosted their price objective on shares of Freehold Royalties from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, November 11th. Scotiabank boosted their price objective on shares of Freehold Royalties from C$13.50 to C$14.00 and gave the stock a “sector perform” rating in a research note on Friday, November 19th. Raymond James boosted their price objective on shares of Freehold Royalties from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, November 11th. Finally, TD Securities boosted their target price on shares of Freehold Royalties from C$13.50 to C$14.50 and gave the stock a “buy” rating in a research report on Thursday, November 11th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.00.

Freehold Royalties Company Profile

Freehold Royalties Ltd. operates as a dividend-paying oil and gas royalty company. The firm engages in acquiring and managing oil and gas royalties. Its production comes from royalty assets, which include mineral title and gross overriding royalties. The company was founded in 1996 and is headquartered in Calgary, Canada.

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