Freehold Royalties (FRU) Sets New 52-Week Low at $9.20
Freehold Royalties Ltd (TSE:FRU) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$9.20 and last traded at C$9.35, with a volume of 240248 shares trading hands. The stock had previously closed at C$9.50.
FRU has been the topic of a number of recent research reports. Canaccord Genuity reduced their price objective on Freehold Royalties from C$17.00 to C$15.50 in a research note on Wednesday, October 24th. CIBC reduced their price objective on Freehold Royalties from C$15.50 to C$14.50 in a research note on Friday, October 5th. Cormark reduced their price objective on Freehold Royalties from C$18.50 to C$16.50 in a research note on Tuesday, October 9th. National Bank Financial reduced their price objective on Freehold Royalties from C$19.00 to C$18.50 and set an “outperform” rating on the stock in a research note on Thursday, October 18th. Finally, Raymond James cut Freehold Royalties from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$16.75 to C$16.00 in a research note on Friday, August 3rd.
The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 11.28.
In other Freehold Royalties news, Director Marvin F. Romanow bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average cost of C$11.17 per share, with a total value of C$223,400.00.
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About Freehold Royalties (TSE:FRU)
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.
Further Reading: Initial Public Offering (IPO)
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