It Seems Freehold Royalties Ltd Will Go Up. Have Big Gap Up Today

 It Seems Freehold Royalties Ltd Will Go Up. Have Big Gap Up Today

The stock of Freehold Royalties Ltd (TSE:FRU) gapped up by $0.49 today and has $13.46 target or 5.00% above today’s $12.82 share price. The 9 months technical chart setup indicates low risk for the $1.46B company. The gap was reported on Nov, 30 by Barchart.com. If the $13.46 price target is reached, the company will be worth $73.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 160,047 shares traded hands. Freehold Royalties Ltd (TSE:FRU) has declined 5.53% since April 26, 2016 and is downtrending. It has underperformed by 10.76% the S&P500.

Freehold Royalties Ltd (TSE:FRU) Ratings Coverage

Out of 9 analysts covering Freehold Royalties (TSE:FRU), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. $18 is the highest target while $11 is the lowest. The $14.77 average target is 15.21% above today’s ($12.82) stock price. Freehold Royalties has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Wednesday, November 9 with “Outperform”. Acumen Capital maintained it with “Buy” rating and $16.25 target price in Tuesday, November 29 report. The firm earned “Buy” rating on Wednesday, November 9 by TD Securities. The firm has “” rating given on Tuesday, June 28 by Desjardins Securities. Cormark Securities maintained the stock with “Buy” rating in Friday, October 28 report. The firm earned “Outperform” rating on Monday, September 19 by Raymond James. Scotia Capital maintained Freehold Royalties Ltd (TSE:FRU) rating on Friday, August 7. Scotia Capital has “Sector Perform” rating and $16 price target. TD Securities maintained it with “Buy” rating and $18 target price in Monday, August 10 report. The rating was initiated by BMO Capital Markets with “Outperform” on Friday, February 12. The company was maintained on Wednesday, November 9 by National Bank Canada.

More notable recent Freehold Royalties Ltd (TSE:FRU) news were published by: Marketwired.com which released: “Freehold Royalties Ltd. Enters Into Agreement to Acquire Royalty Production …” on May 02, 2016, also Marketwired.com with their article: “Freehold Royalties Ltd. Announces Closing of Acquisition and Public Offering” published on May 25, 2016, Marketwired.com published: “Freehold Royalties Ltd. Announces 2016 Second Quarter Results and Suspension …” on August 05, 2016. More interesting news about Freehold Royalties Ltd (TSE:FRU) were released by: Marketwired.com and their article: “Freehold Royalties Ltd. Enters Into Agreements to Acquire Royalty Production …” published on April 14, 2015 as well as Marketwired.com‘s news article titled: “Freehold Royalties Ltd. Announces Strategic Royalty Deals and Corporate …” with publication date: December 04, 2014.

Freehold Royalties Ltd. is a Canada firm engaged in the development and production of oil and natural gas, predominantly in western Canada. The company has a market cap of $1.46 billion. The Company’s primary focus is acquiring and managing oil and natural gas royalties. It currently has negative earnings. The Firm manages a non-government portfolio of oil and natural gas royalties in Canada.

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