Freehold Royalties Ltd (TSE:FRU) had its target price raised by Raymond James Financial, Inc. from C$15.50 to C$16.00 in a report issued on Thursday, May 11th. The brokerage currently has an outperform rating on the stock.
A number of other equities research analysts have also recently issued reports on FRU. National Bank Financial boosted their target price on shares of Freehold Royalties from C$17.00 to C$17.50 in a research report on Friday, March 3rd. Desjardins boosted their target price on shares of Freehold Royalties from C$15.00 to C$15.50 and gave the company a hold rating in a research report on Friday, March 3rd. TD Securities boosted their target price on shares of Freehold Royalties from C$17.00 to C$20.00 and gave the company a buy rating in a research report on Friday, March 3rd. Finally, Scotiabank boosted their target price on shares of Freehold Royalties from C$15.00 to C$15.50 and gave the company a sector perform rating in a research report on Friday, March 3rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Freehold Royalties presently has a consensus rating of Buy and a consensus price target of C$16.64.
Shares of Freehold Royalties (TSE:FRU) opened at 12.43 on Thursday. The firm has a 50-day moving average of $13.31 and a 200-day moving average of $13.55. The company has a market capitalization of $1.47 billion and a P/E ratio of 318.72. Freehold Royalties has a one year low of $10.61 and a one year high of $15.16.
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The business also recently announced a monthly dividend, which will be paid on Monday, July 17th. Stockholders of record on Monday, July 17th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.83%.
In related news, insider Michael John Stone bought 5,346 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was purchased at an average price of C$13.77 per share, with a total value of C$73,614.42. Also, insider Karen C. Taylor sold 2,500 shares of the stock in a transaction dated Monday, March 27th. The stock was sold at an average price of C$13.06, for a total transaction of C$32,650.00.
About Freehold Royalties
Freehold Royalties Ltd. is a Canada-based company engaged in the development and production of oil and natural gas, predominantly in western Canada. The Company’s primary focus is acquiring and managing oil and natural gas royalties. The Company manages a non-government portfolio of oil and natural gas royalties in Canada.
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