Freehold Royalties (FRU) Price Target Cut to C$18.50

Freehold Royalties (TSE:FRU) had its price objective lowered by National Bank Financial from C$19.00 to C$18.50 in a research report issued on Thursday. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 77.20% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Cormark cut their price target on shares of Freehold Royalties from C$18.50 to C$16.50 in a research note on Tuesday, October 9th. CIBC cut their price target on shares of Freehold Royalties from C$15.50 to C$14.50 in a research note on Friday, October 5th. Raymond James cut shares of Freehold Royalties from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$16.75 to C$16.00 in a research note on Friday, August 3rd. Finally, Canaccord Genuity raised their price target on shares of Freehold Royalties from C$16.00 to C$17.00 in a research note on Tuesday, July 10th.

TSE FRU opened at C$10.44 on Thursday. Freehold Royalties has a twelve month low of C$10.29 and a twelve month high of C$16.41.

Freehold Royalties (TSE:FRU) last released its earnings results 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. Freehold Royalties had a negative net margin of 21.07% and a negative return on equity of 3.83%. The business had revenue of C$40.15 million during the quarter, compared to analysts’ expectations of C$38.40 million.

In other Freehold Royalties news, Director Marvin F. Romanow purchased 20,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was purchased at an average price of C$11.17 per share, for a total transaction 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.

Further Reading: Compound Annual Growth Rate (CAGR)

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