Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Update

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 327,200 shares, an increase of 163.7% from the September 15th total of 124,100 shares. Based on an average daily volume of 46,800 shares, the short-interest ratio is presently 7.0 days.

Shares of FRHLF stock remained flat at $$9.20 during trading on Thursday. 54,184 shares of the stock traded hands, compared to its average volume of 31,069. The firm’s 50-day moving average price is $7.71 and its two-hundred day moving average price is $7.31. Freehold Royalties has a 1 year low of $2.55 and a 1 year high of $9.59.

The company also recently declared a dividend, which will be paid on Friday, October 15th. Stockholders of record on Wednesday, September 29th will be given a dividend of $0.4731 per share. This represents a dividend yield of 6.04%. The ex-dividend date is Tuesday, September 28th.

Several equities analysts recently weighed in on FRHLF shares. Scotiabank lifted their price target on Freehold Royalties from C$11.00 to C$13.50 and gave the company a “sector perform” rating in a research note on Thursday. National Bank Financial lifted their price target on Freehold Royalties from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. BMO Capital Markets lifted their price target on Freehold Royalties from C$11.00 to C$12.00 and gave the company a “market perform” rating in a research note on Thursday, September 23rd. TD Securities lifted their price target on Freehold Royalties from C$12.50 to C$13.50 and gave the company a “buy” rating in a research note on Thursday, September 23rd. Finally, CIBC lifted their price objective on Freehold Royalties from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Thursday, September 23rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Freehold Royalties presently has an average rating of “Buy” and a consensus price target of $12.65.

About Freehold Royalties

Freehold Royalties Ltd. operates as a dividend-paying oil and gas royalty company. The firm engages in acquiring and managing oil and gas royalties. Its production comes from royalty assets, which include mineral title and gross overriding royalties. The company was founded in 1996 and is headquartered in Calgary, Canada.

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