PrairieSky Royalty Ltd. (TSE:PSK) Receives C$29.50 Consensus Target Price from Analysts

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$29.50.

A number of research analysts have commented on the stock. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. Natl Bk Canada raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Scotiabank lifted their target price on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, National Bankshares upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$32.00 to C$33.00 in a report on Tuesday, October 21st.

PrairieSky Royalty Price Performance

Shares of TSE PSK opened at C$27.03 on Monday. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$28.98. The firm has a market capitalization of C$6.29 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.68. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The stock’s 50-day simple moving average is C$26.62 and its 200-day simple moving average is C$25.17.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.