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

Shares of PrairieSky Royalty Ltd. (OTCMKTS:PREKF) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company.

Several equities analysts have weighed in on PREKF shares. Scotiabank reaffirmed a “sector perform” rating on shares of PrairieSky Royalty in a report on Friday, July 17th. Royal Bank Of Canada restated an “outperform” rating on shares of PrairieSky Royalty in a research report on Wednesday, July 15th. BMO Capital Markets restated an “outperform” rating on shares of PrairieSky Royalty in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of PrairieSky Royalty in a research note on Friday, July 10th. Finally, Roth Capital began coverage on PrairieSky Royalty in a research report on Thursday, April 30th. They issued a “buy” rating on the stock.

PrairieSky Royalty Trading Up 2.2%

Shares of OTCMKTS:PREKF opened at $24.65 on Tuesday. The stock has a 50 day moving average of $23.74 and a 200 day moving average of $23.36. PrairieSky Royalty has a 12-month low of $16.75 and a 12-month high of $27.36.

About PrairieSky Royalty

PrairieSky Royalty Ltd (OTCMKTS: PREKF) is a Canadian energy royalty company that acquires and manages a diversified portfolio of oil and natural gas royalty interests. The company’s business model is centered on generating recurring, production-based revenue streams by owning freehold, crown, and overriding royalty interests across key resource plays. By not participating directly in exploration or production, PrairieSky Royalty benefits from lower operating risk and capital expenditure requirements compared with traditional upstream operators.

PrairieSky Royalty’s asset base is concentrated in the Western Canadian Sedimentary Basin, with significant holdings in Saskatchewan and Alberta, as well as smaller interests in British Columbia and Manitoba.