Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Down – Here’s What Happened

Freehold Royalties Ltd (OTCMKTS:FRHLF) shares gapped down prior to trading on Thursday . The stock had previously closed at $11.59, but opened at $11.12. Freehold Royalties shares last traded at $11.31, with a volume of 5,784 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Freehold Royalties in a research report on Wednesday, May 13th. Desjardins raised shares of Freehold Royalties to a “hold” rating in a report on Friday, March 13th. Raymond James Financial lowered shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Royal Bank Of Canada upgraded Freehold Royalties to a “hold” rating in a research report on Monday, April 13th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Freehold Royalties currently has a consensus rating of “Hold”.

Freehold Royalties Stock Performance

The company has a market cap of $1.89 billion and a P/E ratio of 29.49. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $12.50 and a 200-day moving average price of $12.15.

Freehold Royalties (OTCMKTS:FRHLF) last issued its quarterly earnings data 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. The business had revenue of $55.93 million for the quarter, compared to analysts’ expectations of $55.95 million. Freehold Royalties had a net margin of 29.91% and a return on equity of 8.84%.

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.