PrairieSky Royalty (TSE:PSK) Stock Rating Upgraded by Raymond James Financial

PrairieSky Royalty (TSE:PSK) was upgraded by stock analysts at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a C$35.00 target price on the stock, up from their previous target price of C$30.00. Raymond James Financial’s price target would suggest a potential upside of 26.58% from the company’s previous close.

PSK has been the topic of several other research reports. Scotiabank raised their price target on PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, National Bankshares upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$32.00 to C$33.00 in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$29.50.

PrairieSky Royalty Price Performance

Shares of TSE:PSK opened at C$27.65 on Tuesday. The company has a market cap of C$6.43 billion, a PE ratio of 29.73, a P/E/G ratio of 0.47 and a beta of 0.68. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$29.03. The firm has a 50-day simple moving average of C$26.07 and a 200 day simple moving average of C$24.76. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

About PrairieSky Royalty

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.