Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Down – Here’s What Happened

Freehold Royalties Ltd (OTCMKTS:FRHLF) gapped down prior to trading on Wednesday. The stock had previously closed at $11.5706, but opened at $11.16. Freehold Royalties shares last traded at $11.6441, with a volume of 1,396 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reaffirmed a “market perform” rating on shares of Freehold Royalties in a report on Wednesday, September 16th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Freehold Royalties Stock Performance

The business’s fifty day moving average price is $12.39 and its 200-day moving average price is $12.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $1.90 billion and a PE ratio of 19.02.

Freehold Royalties (OTCMKTS:FRHLF) last posted its earnings results on Wednesday, July 29th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Freehold Royalties had a net margin of 43.59% and a return on equity of 13.90%. The business 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 royalty company that owns mineral title and royalty interests in oil and natural gas properties. Rather than operating wells directly, the company receives royalty payments from exploration and production companies developing resources on its lands.

Freehold’s portfolio is concentrated in Western Canada, including Alberta, Saskatchewan, Manitoba and British Columbia, and it also holds royalty interests in selected properties in the United States.