Scotiabank Boosts PrairieSky Royalty (TSE:PSK) Price Target to C$30.00

PrairieSky Royalty (TSE:PSK) had its price target increased by research analysts at Scotiabank from C$29.00 to C$30.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 9.69% from the stock’s current price.

Other analysts have also issued research reports about the stock. Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$30.00 to C$35.00 in a report on Tuesday, December 9th. National Bankshares raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$32.00 to C$33.00 in a report on Tuesday, October 21st. Finally, Natl Bk Canada raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, PrairieSky Royalty currently has an average rating of “Moderate Buy” and an average target price of C$29.67.

PrairieSky Royalty Price Performance

TSE PSK traded down C$0.40 during trading hours on Tuesday, hitting C$27.35. The company had a trading volume of 97,038 shares, compared to its average volume of 318,369. 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 firm has a market capitalization of C$6.36 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 0.47 and a beta of 0.74. PrairieSky Royalty has a 52 week low of C$21.97 and a 52 week high of C$28.43. The firm has a 50 day simple moving average of C$26.98 and a 200 day simple moving average of C$25.44.

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.