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

Freehold Royalties Ltd (OTCMKTS:FRHLF)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.47, but opened at $11.75. Freehold Royalties shares last traded at $12.1060, with a volume of 37,074 shares.

Analyst Ratings Changes

Several research firms recently weighed in on FRHLF. Desjardins upgraded shares of Freehold Royalties to a “hold” rating in a research note on Friday, March 13th. National Bank Financial cut shares of Freehold Royalties from an “outperform” rating to a “sector perform” rating in a report on Friday, January 9th. Canadian Imperial Bank of Commerce upgraded Freehold Royalties to a “hold” rating in a research note on Thursday, March 12th. Finally, Raymond James Financial lowered Freehold Royalties from a “moderate buy” rating to a “hold” rating in a report on Monday. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Freehold Royalties Stock Up 2.2%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a 50 day simple moving average of $12.54 and a two-hundred day simple moving average of $11.20. The stock has a market cap of $2.01 billion and a P/E ratio of 30.60.

Freehold Royalties (OTCMKTS:FRHLF) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $50.83 million during the quarter. Freehold Royalties had a return on equity of 8.68% and a net margin of 29.19%.

Freehold Royalties Company Profile

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.