Cormark Trims Freehold Royalties (FRU) Target Price to C$16.50

Freehold Royalties (TSE:FRU) had its target price decreased by Cormark from C$18.50 to C$16.50 in a report released on Tuesday morning.

Several other research firms have also recently weighed in on FRU. Canaccord Genuity raised their price objective on shares of Freehold Royalties from C$16.00 to C$17.00 in a research report on Tuesday, July 10th. CIBC lowered their price objective on shares of Freehold Royalties from C$15.50 to C$14.50 in a research report on Friday, October 5th. Finally, Raymond James lowered shares of Freehold Royalties from an outperform rating to a market perform rating and reduced their target price for the company from C$16.75 to C$16.00 in a report on Friday, August 3rd.

Freehold Royalties stock opened at C$10.59 on Tuesday. Freehold Royalties has a fifty-two week low of C$10.48 and a fifty-two week high of C$16.41.

Freehold Royalties (TSE:FRU) last posted its quarterly earnings data on Thursday, August 2nd. The company reported C$0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.03 by C$0.02. The firm had revenue of C$40.15 million for the quarter, compared to analysts’ expectations of C$38.40 million. Freehold Royalties had a negative net margin of 21.07% and a negative return on equity of 3.83%.

The firm also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 15th will be issued a dividend of $0.0525 per share. This represents a $0.63 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Tuesday, October 30th.

In other Freehold Royalties news, Director Marvin F. Romanow bought 20,000 shares of Freehold Royalties stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of C$11.17 per share, with a total value of C$223,400.00.

Freehold Royalties Company Profile

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada. It holds approximately 6.1 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 42,000 wells and receives royalty from industry operators.

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