PrairieSky Royalty Ltd (PSK) Price Target Raised to C$29.00
PrairieSky Royalty Ltd (TSE:PSK) had its target price upped by equities research analysts at RBC Capital Markets from C$28.00 to C$29.00 in a research note issued to investors on Thursday. RBC Capital Markets’ target price would indicate a potential upside of 1.75% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Barclays PLC raised their target price on shares of PrairieSky Royalty from C$28.00 to C$29.00 in a research note on Tuesday. Raymond James Financial Inc. raised their target price on shares of PrairieSky Royalty from C$28.00 to C$30.00 and gave the company an “outperform” rating in a research note on Monday, September 12th. FirstEnergy Capital upgraded shares of PrairieSky Royalty from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 28th. TD Securities restated a “buy” rating and issued a C$31.00 target price on shares of PrairieSky Royalty in a research note on Tuesday, July 26th. Finally, Scotiabank reiterated an “outperform” rating and set a C$28.00 price objective on shares of PrairieSky Royalty in a research note on Tuesday, July 26th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. PrairieSky Royalty has a consensus rating of “Hold” and a consensus price target of C$27.92.
PrairieSky Royalty (TSE:PSK) traded down 0.04% during midday trading on Thursday, hitting $28.49. The stock had a trading volume of 405,131 shares. The firm has a market capitalization of $6.52 billion and a P/E ratio of 320.11. PrairieSky Royalty has a 52-week low of $17.15 and a 52-week high of $28.95. The firm has a 50-day moving average of $26.82 and a 200 day moving average of $25.45.
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The business also recently announced a monthly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 17th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.53%.
PrairieSky Royalty Company Profile
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. The Company’s assets include the Fee Lands, encompassing approximately 8.8 million acres; the GORR Interests, encompassing approximately 6.6 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 40,010 kilometers of two dimensional seismic and over 10,760 square kilometers of three dimensional seismic.
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