Freehold Royalties (TSE:FRU) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Freehold Royalties Ltd. (TSE:FRU)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.99 and traded as high as C$17.95. Freehold Royalties shares last traded at C$17.69, with a volume of 1,070,186 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FRU. Canaccord Genuity Group boosted their price objective on Freehold Royalties from C$16.00 to C$17.00 in a research note on Friday, November 14th. Raymond James Financial raised Freehold Royalties from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$14.50 to C$17.50 in a research note on Tuesday, December 9th. Scotiabank lifted their target price on Freehold Royalties from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. National Bank Financial downgraded Freehold Royalties from an “outperform” rating to a “hold” rating and set a C$15.00 target price on the stock. in a research report on Friday, January 9th. Finally, Canadian Imperial Bank of Commerce increased their price target on Freehold Royalties from C$14.50 to C$15.25 in a report on Friday, November 14th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$15.79.

Freehold Royalties Price Performance

The company has a market capitalization of C$2.90 billion, a P/E ratio of 22.11, a P/E/G ratio of -0.92 and a beta of 0.65. The firm’s fifty day moving average is C$16.41 and its 200 day moving average is C$14.99. The company has a debt-to-equity ratio of 27.54, a quick ratio of 1.50 and a current ratio of 1.63.

Freehold Royalties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. Freehold Royalties’s dividend payout ratio is currently 135.00%.

Freehold Royalties Company Profile

Freehold Royalties Ltd is in acquiring and managing Oil and Gas royalties. It operates in two segments: Canada, which includes exploration and evaluation assets and the petroleum and natural gas interests in Western Canada; and the United States, which includes petroleum and natural gas interests held in the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins primarily located in the states of Texas, Louisiana, and North Dakota. The majority of its revenue is generated from Canada Segment.