National Bank Financial Cuts Freehold Royalties (FRU) Price Target to C$18.50

Freehold Royalties (TSE:FRU) had its price objective decreased by equities researchers at National Bank Financial from C$19.00 to C$18.50 in a research report issued to clients and investors on Thursday. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 77.37% from the stock’s previous close.

FRU has been the topic of several other research reports. CIBC reduced their price target on shares of Freehold Royalties from C$15.50 to C$14.50 in a research note on Friday, October 5th. Canaccord Genuity raised their price target on shares of Freehold Royalties from C$16.00 to C$17.00 in a research note on Tuesday, July 10th. Cormark reduced their price target on shares of Freehold Royalties from C$18.50 to C$16.50 in a research note on Tuesday, October 9th. Finally, Raymond James downgraded shares of Freehold Royalties from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$16.75 to C$16.00 in a research note on Friday, August 3rd.

Shares of Freehold Royalties stock traded down C$0.10 during trading on Thursday, hitting C$10.43. The stock had a trading volume of 235,582 shares, compared to its average volume of 289,978. Freehold Royalties has a 12 month low of C$10.29 and a 12 month high of C$16.41.

Freehold Royalties (TSE:FRU) last released its earnings results on Thursday, August 2nd. The company reported C$0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.03 by C$0.02. The firm had revenue of C$40.15 million during the quarter, compared to analyst estimates of C$38.40 million. Freehold Royalties had a negative net margin of 21.07% and a negative return on equity of 3.83%.

In related news, Director Marvin F. Romanow purchased 20,000 shares of Freehold Royalties stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of C$11.17 per share, with a total value of C$223,400.00.

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 6.1 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 42,000 wells and receives royalty from industry operators.

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