PrairieSky Royalty Ltd. (OTCMKTS:PREKF) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PrairieSky Royalty Ltd. (OTCMKTS:PREKF) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company.

A number of equities analysts recently issued reports on PREKF shares. Raymond James Financial reiterated a “market perform” rating on shares of PrairieSky Royalty in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of PrairieSky Royalty in a research note on Friday, July 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of PrairieSky Royalty in a report on Wednesday, July 15th. Finally, Scotiabank reiterated a “sector perform” rating on shares of PrairieSky Royalty in a research note on Friday, July 17th.

PrairieSky Royalty Stock Performance

Shares of OTCMKTS PREKF opened at $23.25 on Wednesday. The firm’s 50-day simple moving average is $25.27 and its 200 day simple moving average is $24.27. PrairieSky Royalty has a fifty-two week low of $17.09 and a fifty-two week high of $28.07.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. is a Canadian royalty company that owns and manages mineral title lands, primarily in the Western Canadian Sedimentary Basin. Rather than exploring for or producing resources itself, the company grants exploration and development rights to oil and natural gas producers and other resource companies.

PrairieSky generates revenue through royalties, lease payments, rentals, bonuses and other fees associated with the development of its lands. Its mineral interests include rights relating to oil, natural gas, natural gas liquids and other minerals, allowing the company to participate in resource activity without directly funding drilling, production or operating costs.

Established in 2013 and headquartered in Calgary, Alberta, PrairieSky serves resource operators across Western Canada, with its land holdings concentrated primarily in Alberta and extending into other parts of the region.