Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Down – What’s Next?

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

Freehold Royalties Stock Performance

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 stock has a market cap of $1.89 billion and a price-to-earnings ratio of 29.49. The company’s 50-day simple moving average is $12.50 and its 200-day simple moving average is $12.15.

Freehold Royalties (OTCMKTS:FRHLF) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Freehold Royalties had a return on equity of 8.84% and a net margin of 29.91%.The company had revenue of $55.93 million for the quarter, compared to analysts’ expectations of $55.95 million.

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.