RBC Capital analyst Luke Davis maintained a Buy rating on Freehold Royalties (FRHLF – Research Report) on April 12 and set a price target of C$10.00. The company’s shares closed last Tuesday at $5.99, close to its 52-week high of $6.34.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 33.3% and a 58.9% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Whitecap Resources, and PrairieSky Royalty.
Currently, the analyst consensus on Freehold Royalties is a Strong Buy with an average price target of $7.67, which is a 27.2% upside from current levels. In a report issued on April 9, Raymond James also maintained a Buy rating on the stock with a C$11.00 price target.
Based on Freehold Royalties’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $25.88 million and net profit of $373K. In comparison, last year the company earned revenue of $37.48 million and had a net profit of $6.11 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FRHLF in relation to earlier this year.
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Freehold Royalties Ltd. engages in acquiring and managing of 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.