Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Price Target at C$29.50

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

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

PrairieSky Royalty Price Performance

Shares of PSK opened at C$27.06 on Monday. PrairieSky Royalty has a 52 week low of C$21.97 and a 52 week high of C$28.98. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The firm has a market cap of C$6.30 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 0.47 and a beta of 0.74. The stock has a 50 day moving average of C$26.70 and a 200-day moving average of C$25.21.

PrairieSky Royalty Company Profile

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.