Freehold Royalties (TSE:FRU) Price Target Raised to C$11.65 at Eight Capital

Freehold Royalties (TSE:FRU) had its price target lifted by equities research analysts at Eight Capital from C$11.50 to C$11.65 in a note issued to investors on Friday, BayStreet.CA reports. Eight Capital’s price target points to a potential upside of 43.12% from the company’s current price.

Several other research firms have also recently issued reports on FRU. CIBC reduced their price objective on shares of Freehold Royalties from C$11.00 to C$9.50 in a research report on Thursday, July 18th. National Bank Financial lifted their price objective on shares of Freehold Royalties from C$10.00 to C$10.50 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada reduced their price objective on shares of Freehold Royalties from C$14.00 to C$13.00 in a research report on Thursday, July 18th. Canaccord Genuity lifted their price objective on shares of Freehold Royalties from C$11.50 to C$12.00 in a research report on Tuesday, April 9th. Finally, Raymond James reduced their price objective on shares of Freehold Royalties from C$10.25 to C$9.00 in a research report on Thursday, July 11th.

TSE FRU traded up C$0.17 on Friday, reaching C$8.14. 391,078 shares of the stock were exchanged, compared to its average volume of 313,820. Freehold Royalties has a one year low of C$7.66 and a one year high of C$12.35. The firm has a market cap of $944.11 million and a price-to-earnings ratio of 407.00. The firm’s 50-day moving average price is C$8.26. The company has a debt-to-equity ratio of 12.00, a current ratio of 1.90 and a quick ratio of 1.77.

Freehold Royalties (TSE:FRU) last released its earnings results on Tuesday, May 7th. The company reported C($0.06) EPS for the quarter, missing analysts’ consensus estimates of C$0.03 by C($0.09). The business had revenue of C$35.61 million for the quarter, compared to the consensus estimate of C$35.20 million. As a group, research analysts predict that Freehold Royalties will post 0.17 earnings per share for the current year.

About Freehold Royalties

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 6.2 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 43,000 wells and receives royalty from 300 industry operators.

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