Freehold Royalties (TSE:FRU) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Wednesday, BayStreet.CA reports. They currently have a C$10.00 price objective on the stock, up from their prior price objective of C$9.50. Scotiabank’s price objective suggests a potential upside of 3.52% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Raymond James restated an “outperform” rating and set a C$11.00 price objective on shares of Freehold Royalties in a report on Wednesday, May 12th. BMO Capital Markets raised their price objective on shares of Freehold Royalties from C$9.00 to C$10.00 and gave the stock an “outperform” rating in a report on Wednesday, May 12th. TD Securities raised their price objective on shares of Freehold Royalties from C$9.00 to C$9.50 and gave the stock a “buy” rating in a report on Friday, March 5th. Eight Capital raised their price objective on shares of Freehold Royalties from C$6.60 to C$10.00 and gave the stock a “buy” rating in a report on Friday, March 12th. Finally, Cormark raised their target price on shares of Freehold Royalties from C$7.75 to C$10.00 in a research report on Tuesday, March 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$10.27.
FRU opened at C$9.66 on Wednesday. The stock has a fifty day moving average price of C$8.44. The company has a current ratio of 4.18, a quick ratio of 2.68 and a debt-to-equity ratio of 13.68. The firm has a market capitalization of C$1.27 billion and a price-to-earnings ratio of 2,415.00. Freehold Royalties has a twelve month low of C$3.19 and a twelve month high of C$9.70.
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 and the United States. The company holds approximately 6.7 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 11,000 producing wells and receives royalty from 300 industry operators.
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