Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Down 32.5% in May

Freehold Royalties Ltd. (OTCMKTS:FRHLF – Get Rating) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 1,826,000 shares, a decline of 32.5% from the May 15th total of 2,703,600 shares. Based on an average trading volume of 69,400 shares, the days-to-cover ratio is presently 26.3 days.

OTCMKTS:FRHLF traded down $0.58 on Tuesday, hitting $12.06. 103,716 shares of the company’s stock traded hands, compared to its average volume of 31,166. Freehold Royalties has a 1 year low of $6.29 and a 1 year high of $13.97. The firm has a 50-day moving average price of $11.95 and a 200-day moving average price of $10.84.

The firm also recently announced a dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 30th will be paid a dividend of $0.0618 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a yield of 6.5%.

Several equities research analysts have commented on FRHLF shares. National Bank Financial boosted their price target on shares of Freehold Royalties from C$18.00 to C$19.50 in a research report on Thursday, April 14th. Raymond James boosted their price target on shares of Freehold Royalties from C$17.00 to C$19.00 in a research report on Thursday, March 3rd. Desjardins boosted their price objective on Freehold Royalties from C$19.00 to C$20.00 in a report on Monday, March 7th. TD Securities boosted their price objective on Freehold Royalties from C$15.50 to C$17.50 in a report on Thursday, March 3rd. Finally, Scotiabank boosted their price objective on Freehold Royalties from C$17.00 to C$18.00 in a report on Wednesday, June 8th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Freehold Royalties presently has a consensus rating of “Buy” and a consensus target price of $17.35.

Freehold Royalties Company Profile (Get Rating)

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. The company holds approximately 6.2 million gross acres of land in Canada and 0.8 million gross drilling unit acres in the United States.

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