Freehold Royalties (OTCMKTS:FRHLF) Shares Cross Below 50-Day Moving Average – Here’s Why

Freehold Royalties Ltd. (OTCMKTS:FRHLF)’s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.97 and traded as low as $8.90. Freehold Royalties shares last traded at $8.93, with a volume of 42,098 shares traded.

Analyst Ratings Changes

Separately, Raymond James started coverage on shares of Freehold Royalties in a research note on Friday, October 18th. They issued a “market perform” rating and a $16.00 price target on the stock.

Freehold Royalties Price Performance

The stock’s 50 day moving average is $8.97 and its 200-day moving average is $9.68.

Freehold Royalties Cuts Dividend

The company also recently declared a dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.0628 dividend. This represents a yield of 8.38%. The ex-dividend date is Friday, January 31st. Freehold Royalties’s payout ratio is 181.76%.

About Freehold Royalties

Freehold Royalties Ltd. engages in the acquiring and managing royalty interests in the crude oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. Freehold Royalties Ltd. was founded in 1996 and is headquartered in Calgary, Canada.