PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00 at TD Securities

PrairieSky Royalty (TSE:PSK) had its target price increased by research analysts at TD Securities from C$30.00 to C$33.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 11.49% from the stock’s current price.

A number of other brokerages have also weighed in on PSK. 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 report on Tuesday, December 9th. Scotiabank raised their target price on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. Natl Bk Canada upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Finally, National Bankshares increased their price objective on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.57.

PrairieSky Royalty Trading Down 2.3%

Shares of TSE:PSK traded down C$0.71 on Tuesday, hitting C$29.60. 255,615 shares of the company’s stock were exchanged, compared to its average volume of 389,586. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$30.69. The stock has a market capitalization of C$6.89 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 0.47 and a beta of 0.79. The business’s 50 day simple moving average is C$27.65 and its two-hundred day simple moving average is C$25.99. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

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.