Freehold Royalties Ltd. (OTCMKTS:FRHLF – Get Rating) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,707,800 shares, an increase of 10.7% from the August 15th total of 1,542,300 shares. Based on an average daily volume of 73,100 shares, the days-to-cover ratio is presently 23.4 days.
Analyst Upgrades and Downgrades
Several analysts have weighed in on FRHLF shares. Scotiabank upped their price objective on shares of Freehold Royalties from C$17.00 to C$18.00 in a research note on Wednesday, June 8th. National Bank Financial cut their price target on shares of Freehold Royalties from C$22.00 to C$20.00 in a research note on Monday, July 18th. CIBC cut shares of Freehold Royalties from an "outperform" rating to a "neutral" rating in a research note on Wednesday, June 15th. Finally, Canaccord Genuity Group assumed coverage on shares of Freehold Royalties in a report on Thursday, August 25th. They set a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Freehold Royalties currently has an average rating of "Moderate Buy" and an average target price of $17.40.
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Freehold Royalties Stock Performance
Freehold Royalties stock traded down $0.20 during trading on Monday, reaching $11.08. 64,400 shares of the company were exchanged, compared to its average volume of 44,616. Freehold Royalties has a 52-week low of $7.31 and a 52-week high of $13.97. The stock's 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $11.27.
Freehold Royalties Increases Dividend
The company also recently announced a dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.0705 dividend. This is a positive change from Freehold Royalties's previous dividend of $0.06. This represents a dividend yield of 7.59%. The ex-dividend date of this dividend was Tuesday, August 30th.
Freehold Royalties Company Profile
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Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. The company holds approximately 6.2 million gross acres of land in Canada and 0.8 million gross drilling unit acres in the United States.
Further Reading
- Get a free copy of the StockNews.com research report on Freehold Royalties (FRHLF)
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