Freehold Royalties (OTCMKTS:FRHLF) Stock Price Crosses Below 50 Day Moving Average of $10.86

Freehold Royalties Ltd. (OTCMKTS:FRHLFGet Rating)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.86 and traded as low as $10.12. Freehold Royalties shares last traded at $10.16, with a volume of 30,310 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Scotiabank raised their target price on Freehold Royalties from C$17.00 to C$18.00 in a research note on Wednesday, June 8th. National Bank Financial lowered their target price on Freehold Royalties from C$22.00 to C$20.00 in a research note on Monday, July 18th. Finally, CIBC downgraded Freehold Royalties from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 15th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Freehold Royalties has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Freehold Royalties Stock Down 5.4 %

The stock has a 50 day simple moving average of $10.86 and a 200 day simple moving average of $11.14.

Freehold Royalties Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a $0.0617 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a yield of 7.32%.

Freehold Royalties Company Profile

(Get Rating)

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.

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