CIBC raises target price for free royalties (TSE: FRU) to CA $ 14.00
Free royalties (TSE: FRU) saw its price target raised by CIBC from C $ 13.00 to C $ 14.00 in a research note released Thursday, Price Targets.com reports. The company currently has an “outperformance” rating on the stock. CIBC’s price target indicates a potential rise of 40.99% from the company’s current price.
A number of other research analysts have also recently published reports on the company. Scotiabank raised its price target on freehold royalties from C $ 10.00 to C $ 11.00 in a research note on Thursday, July 15. Ci Capital raised its price target on Freehold Royalties shares to C $ 12.50 in a report released on Thursday, August 12. BMO Capital Markets raised its price target for Freehold Royalties shares from C $ 10.00 to C $ 11.00 and assigned the company a “na” rating in a report released on Monday, June 21. Raymond James raised his target price on freehold royalties from C $ 11.00 to C $ 12.50 and gave the company an “outperformance” rating in a research note on Wednesday, June 30. Finally, National Bank Shares raised its price target on freehold royalties from C $ 11.50 to C $ 12.00 in a research note on Monday, July 19. One equity research analyst rated the stock with a conservation rating and eight issued a buy rating for the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C $ 12.33.
FRU shares traded up C $ 0.38 on Thursday, to C $ 9.93. The company had a trading volume of 845,471 shares, compared to its average volume of 484,900. Freehold Royalties has a year-over-year low of C $ 3.37 and a year-over-year high of C $ 10.56. The company has a debt to equity ratio of 11.19, a quick ratio of 3.15, and a current ratio of 4.55. The company has a market capitalization of C $ 1.31 billion and a P / E ratio of 67.62. The stock’s 50-day moving average is C $ 9.11 and its two-hundred-day moving average is C $ 8.75.
Freehold Royalties (TSE: FRU) last released its quarterly profit data on Tuesday August 10. The company reported EPS of C $ 0.10 for the quarter, beating the consensus estimate of C $ 0.09 by the Zacks by C $ 0.01. The company generated sales of C $ 44.93 million for the quarter, compared to the consensus estimate of C $ 41.00 million. Equity research analysts predict that Freehold Royalties will post 0.53 EPS for the current year.
Freehold Royales Company Profile
Freehold Royalties Ltd., an oil and gas royalty company, owns direct interests in oil, natural gas and potash properties in Western Canada and the United States. The company owns approximately 6.7 million gross acres of land from northeastern British Columbia to southern Ontario. It owns interests in approximately 11,000 producing wells and receives royalties from 300 industrial operators.
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