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

Freehold Royalties Ltd (OTCMKTS:FRHLF) shares gapped down before the market opened on Thursday . The stock had previously closed at $12.95, but opened at $12.46. Freehold Royalties shares last traded at $12.46, with a volume of 645 shares traded.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reiterated a “market perform” rating on shares of Freehold Royalties in a research report on Wednesday. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Freehold Royalties Price Performance

The company has a market capitalization of $2.06 billion and a price-to-earnings ratio of 20.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.80 and a current ratio of 1.80. The business has a 50 day moving average price of $12.33 and a 200-day moving average price of $12.39.

Freehold Royalties (OTCMKTS:FRHLF) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.06. Freehold Royalties had a net margin of 43.59% and a return on equity of 13.90%. The firm had revenue of $70.61 million during the quarter, compared to the consensus estimate of $70.60 million.

About Freehold Royalties

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.