PrairieSky Royalty (TSE:PSK) Price Target Raised to C$35.00 at National Bankshares

PrairieSky Royalty (TSE:PSK) had its price objective lifted by investment analysts at National Bankshares from C$32.00 to C$35.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 18.72% from the stock’s current price.

Other analysts have also issued research reports about the company. Scotiabank lifted their price objective on PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Natl Bk Canada raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Finally, Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, PrairieSky Royalty currently has an average rating of “Moderate Buy” and a consensus price target of C$30.00.

PrairieSky Royalty Price Performance

PrairieSky Royalty stock traded up C$0.43 during mid-day trading on Tuesday, hitting C$29.48. The company’s stock had a trading volume of 164,526 shares, compared to its average volume of 382,831. PrairieSky Royalty has a twelve month low of C$21.97 and a twelve month high of C$29.98. The stock’s fifty day moving average price is C$27.32 and its two-hundred day moving average price is C$25.78. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The stock has a market capitalization of C$6.86 billion, a P/E ratio of 31.70, a P/E/G ratio of 0.47 and a beta of 0.74.

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.