Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Time to Buy?

Freehold Royalties Ltd (OTCMKTS:FRHLF) shares gapped up prior to trading on Friday . The stock had previously closed at $12.18, but opened at $13.08. Freehold Royalties shares last traded at $12.15, with a volume of 9,931 shares traded.

Wall Street Analysts Forecast Growth

FRHLF has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Freehold Royalties in a research report on Wednesday, May 13th. Royal Bank Of Canada upgraded shares of Freehold Royalties to a “hold” rating in a research report on Monday, April 13th. Finally, Raymond James Financial lowered shares of Freehold Royalties from a “moderate buy” rating to a “hold” rating in a research note on Monday, March 30th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Freehold Royalties Stock Performance

The firm’s fifty day moving average is $12.00 and its 200 day moving average is $12.22. The firm has a market capitalization of $1.97 billion and a price-to-earnings ratio of 30.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.73 and a quick ratio of 1.73.

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

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.