BMO Capital Thinks Freehold Royalties’ Stock is Going to Recover

By Carrie Williams

Wall Street analyst has provided a review for the Materials company on March 12, but retained the same rating on the stock. Analyst Joe Levesque remains bullish on Freehold Royalties (TSX: FRU) and has a C$17 price target.

According to, Levesque is a 3-star analyst with an average return of 3.2% and a 50.0% success rate. Levesque covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Athabasca Oil Corporation, and Advantage Oil & Gas Ltd.

Currently, the analyst consensus on Freehold Royalties is Strong Buy and the average price target is C$16.88, representing a 35.1% upside.

In a report issued on March 11, Canaccord Genuity also maintained a Buy rating on the stock with a C$16 price target.

Freehold Royalties’ market cap is currently C$1.47B and has a P/E ratio of 123.

Freehold Royalties Ltd. is engaged in acquiring and managing oil and gas royalties. The majority of Freehold Royalties production comes from royalty assets, which include mineral title and gross overriding royalties. Freehold Royalties was founded in 1996 and is headquartered in Calgary, Canada.

The company’s shares closed on Wednesday at C$12.49, close to its 52-week low of C$11.71.