According to Bloomberg, the thirteen research firms currently tracking Freehold Royalties Ltd. (TSE: FRU) have given the company an average “Moderate Buy.” One analyst recommended buying the stock, while eight other analysts gave the company a buy rating. The average 12-month target price among brokerages that have recently covered the stock is C$19.69.
On FRU, recent analyst research has covered a range of subjects. National Bankshares raised Freehold Royalties’ price objective from C$19.00 to C$20.00 in a research note released on November 9, and the company was rated “outperform.” On Thursday, October 13, Scotiabank raised its price objective on freehold royalties from C$18.00 to C$19.00 in a research note. Canaccord Genuity Group raised their price objective on freehold royalties from C$19.50 to C$20.00 in a research report published on November 9. CIBC raised their Freehold Royalties price objective from C$18.00 to C$19.00 in a research note released on November 9 and categorized the business as “neutral.” Last but not least, in a research note published on Wednesday, August 10, ATB Capital cut its Freehold Royalties target price from C$20.00 to C$19.50.
On Monday, TSE FRU’s opening price was C$16.59. Freehold royalties’ 52-week low and high are C$10.18 and C$17.78, respectively. The company’s debt-to-equity ratio is 20.67, its quick ratio is 1.51, and its current ratio is 1.84. The company’s fifty-day simple moving average is C$16.34, and its 200-day simple moving average is C$14.93. The company has a $2.50 billion market cap and a PE ratio of 12.38.
The corporation also declared a monthly dividend that would be paid on December 15. Dividends of $0.09 per share will be paid to shareholders with a record on December 15. This yield is 6.51% and a $1.08 annual dividend value. The ex-dividend date for this dividend is November 29, a Tuesday. Freehold royalties are paid at a rate of 64.93%.
The Associated Press’s insider November 11, the Canadian National Railway Company, which oversees the CN Pension Trust Funds, sold 2,200,000 shares of its stock. The stock was sold at an average price of C$17.00 for a total transaction value of C$37,400,000.00. Following the sale, the insider will have 18,626,307 company shares valued at $316,647,219. In other Freehold Royalties news, on Friday, November 11, the Canadian National Railway Company, the trustee for the CN Pension Trust Funds, sold 2,200,000 shares of the company’s stock. A total of C$37,400,000.00 worth of the stock was sold, with an average price of C$17.00. Following the sale, the insider will have 18,626,307 company shares valued at $316,647,219. In addition, Senior Officer David Warren Hendry purchased 5,000 Freehold Royalties stock on Friday, September 23. The stock was acquired for a total cost of C$67,250.00 or C$13.45 per share. Following the sale, the insider now owns 30,000 company shares, valued at about $403,500.
Freehold Royalties Ltd., an oil and gas royalty company, has working interests in properties in Western Canada and the United States that contain oil, natural gas, natural gas liquids, and potash. The company has 6.2 million gross acres of land in Canada and about 0.8 million gross drilling unit acres in the United States.