Freehold Royalties (OTCMKTS:FRHLF) Hits New 52-Week High – Here’s Why

Shares of Freehold Royalties Ltd (OTCMKTS:FRHLF) hit a new 52-week high on Thursday . The company traded as high as $13.58 and last traded at $12.95, with a volume of 106810 shares. The stock had previously closed at $12.94.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FRHLF shares. National Bank Financial cut Freehold Royalties from an “outperform” rating to a “sector perform” rating in a report on Friday, January 9th. Desjardins reiterated a “hold” rating on shares of Freehold Royalties in a research note on Monday, November 17th. Finally, Raymond James Financial upgraded shares of Freehold Royalties from a “market perform” rating to an “outperform” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold”.

Freehold Royalties Price Performance

The business’s 50-day moving average is $11.94 and its two-hundred day moving average is $10.80. The company has a market capitalization of $2.15 billion and a P/E ratio of 22.64. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28.

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.