Freehold Royalties (FRU) has received a rating update from a Wall Street analyst today. Analyst Dennis Fong from Canaccord Genuity rated Freehold Royalties (FRU) a Buy, setting a C$11.50 price target.
According to TipRanks.com, Fong has 0 stars on 0-5 star ranking scale with an average return of -5.4% and a 33.2% success rate. Fong covers the Basic Materials sector, focusing on stocks such as PrairieSky Royalty Ltd, Freehold Royalties Ltd, and Pengrowth Energy Corp.
Currently, the analyst consensus on Freehold Royalties is a Moderate Buy with an average price target of C$13.06, representing a 52.6% upside. In a report issued on January 7, RBC Capital also reiterated a Buy rating on the stock with a C$14 price target.
.
Based on Freehold Royalties’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$8.39 million. In comparison, last year the company had a GAAP net loss of C$8.06 million.
Freehold Royalties Ltd. engages in acquiring and managing oil and gas royalties. Its production comes from royalty assets, which include mineral title and gross overriding royalties. The company was founded in 1996 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$8.56, close to its 52-week low of C$7.68.
