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 rating of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company.

A number of brokerages have commented on PREKF. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of PrairieSky Royalty in a research note on Friday, July 10th. Scotiabank reissued a “sector perform” rating on shares of PrairieSky Royalty in a research note on Friday, July 17th. BMO Capital Markets restated an “outperform” rating on shares of PrairieSky Royalty in a report on Friday, May 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of PrairieSky Royalty in a research report on Wednesday, July 15th.

PrairieSky Royalty Stock Down 1.1%

Shares of PrairieSky Royalty stock opened at $26.53 on Friday. PrairieSky Royalty has a one year low of $17.09 and a one year high of $27.36. The business has a 50-day simple moving average of $24.46 and a 200 day simple moving average of $23.90.

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.