PrairieSky Royalty (TSE:PSK) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Shares of PrairieSky Royalty Ltd. (TSE:PSK) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$33.09 and traded as high as C$35.15. PrairieSky Royalty shares last traded at C$34.79, with a volume of 402,791 shares changing hands.

Analyst Upgrades and Downgrades

PSK has been the subject of a number of analyst reports. Scotiabank upped their price objective 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. BMO Capital Markets upped their price objective on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Roth Mkm upgraded PrairieSky Royalty to a “strong-buy” rating in a research report on Thursday, April 30th. TD Securities increased their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Finally, Raymond James Financial lowered PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and increased their target price for the company from C$35.00 to C$35.50 in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$32.25.

PrairieSky Royalty Stock Down 1.9%

The business has a fifty day simple moving average of C$33.13 and a two-hundred day simple moving average of C$30.27. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 9.36. The company has a market cap of C$7.93 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75.

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.