Freehold Royalties Ltd. (OTCMKTS:FRHLF) Short Interest Down 5.3% in November

Freehold Royalties Ltd. (OTCMKTS:FRHLF) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,684,800 shares, a drop of 5.3% from the October 31st total of 3,891,500 shares. Based on an average trading volume of 118,100 shares, the days-to-cover ratio is presently 31.2 days.

Wall Street Analyst Weigh In

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

Freehold Royalties Price Performance

OTCMKTS:FRHLF opened at $9.79 on Wednesday. The stock has a fifty day moving average of $10.11 and a 200 day moving average of $10.07. Freehold Royalties has a 52-week low of $9.30 and a 52-week high of $11.00.

Freehold Royalties Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.0649 per share. This represents a dividend yield of 7.61%. The ex-dividend date is Friday, November 29th. 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.