Freehold Royalties (OTCMKTS:FRHLF) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Freehold Royalties Ltd (OTCMKTS:FRHLF) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.87 and traded as high as $12.21. Freehold Royalties shares last traded at $11.97, with a volume of 151,729 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on FRHLF shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Freehold Royalties in a research note on Wednesday, May 13th. Royal Bank Of Canada raised shares of Freehold Royalties to a “hold” rating in a research report on Monday, April 13th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Freehold Royalties Stock Down 1.6%

The stock has a 50-day simple moving average of $11.87 and a 200-day simple moving average of $12.30. The firm has a market capitalization of $1.96 billion and a PE ratio of 19.62. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.30.

Freehold Royalties (OTCMKTS:FRHLF) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Freehold Royalties had a return on equity of 13.92% and a net margin of 43.59%.The company had revenue of $70.61 million for the quarter, compared to analyst estimates of $70.60 million.

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.