Raymond James Financial Downgrades Freehold Royalties (OTCMKTS:FRHLF) to Hold

Freehold Royalties (OTCMKTS:FRHLF) was downgraded by equities researchers at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also weighed in on FRHLF. Desjardins raised shares of Freehold Royalties to a “hold” rating in a report on Friday, March 13th. Canadian Imperial Bank of Commerce upgraded shares of Freehold Royalties to a “hold” rating in a research note on Thursday, March 12th. Finally, National Bank Financial cut shares of Freehold Royalties from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 9th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Freehold Royalties Stock Performance

Shares of FRHLF opened at $12.47 on Monday. The business’s 50 day moving average is $12.52 and its two-hundred day moving average is $11.18. Freehold Royalties has a 52-week low of $7.45 and a 52-week high of $13.58. The firm has a market cap of $2.04 billion and a price-to-earnings ratio of 31.18. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28.

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

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.