Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Update

Freehold Royalties Ltd. (OTCMKTS:FRHLF) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 204,700 shares, an increase of 39.9% from the August 15th total of 146,300 shares. Based on an average trading volume of 45,800 shares, the days-to-cover ratio is presently 4.5 days.

Shares of FRHLF stock traded down $0.19 during mid-day trading on Monday, reaching $7.65. The stock had a trading volume of 8,900 shares, compared to its average volume of 30,088. Freehold Royalties has a 12-month low of $2.55 and a 12-month high of $8.92. The business has a 50-day simple moving average of $7.23 and a 200 day simple moving average of $7.01.

The business also recently announced a dividend, which will be paid on Friday, October 15th. Stockholders of record on Wednesday, September 29th will be given a dividend of $0.4731 per share. This represents a dividend yield of 6.04%. The ex-dividend date is Tuesday, September 28th.

Several analysts recently issued reports on the stock. National Bank Financial boosted their price objective on shares of Freehold Royalties from C$11.50 to C$12.00 and gave the company an “outperform” rating in a report on Monday, July 19th. Scotiabank increased their price objective on Freehold Royalties from C$10.00 to C$11.00 and gave the company a “sector perform” rating in a report on Thursday, July 15th. Finally, CIBC upped their price target on Freehold Royalties from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $10.85.

About Freehold Royalties

Freehold Royalties Ltd. operates as a dividend-paying oil and gas royalty company. The firm 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.

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