PrairieSky Royalty (TSE:PSK) Reaches New 1-Year High – Still a Buy?

PrairieSky Royalty Ltd. (TSE:PSK) reached a new 52-week high during trading on Tuesday . The company traded as high as C$32.14 and last traded at C$32.14, with a volume of 42173 shares trading hands. The stock had previously closed at C$31.91.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSK. Scotiabank boosted their target price on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 10th. National Bank Financial increased their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. TD Securities lifted their price target on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Raymond James Financial raised PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Finally, BMO Capital Markets upped their price objective on PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$31.57.

PrairieSky Royalty Trading Up 0.7%

The company has a debt-to-equity ratio of 9.54, a current ratio of 0.64 and a quick ratio of 0.65. The business’s fifty day simple moving average is C$29.68 and its 200 day simple moving average is C$27.30. The stock has a market cap of C$7.52 billion, a price-to-earnings ratio of 37.13, a P/E/G ratio of 0.47 and a beta of 0.65.

Insider Buying and Selling at PrairieSky Royalty

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie acquired 8,400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average price of C$29.92 per share, with a total value of C$251,328.00. Following the transaction, the director directly owned 68,850 shares in the company, valued at approximately C$2,059,992. This represents a 13.90% increase in their ownership of the stock. 0.54% of the stock is currently owned by corporate insiders.

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.