National Bankshares Forecasts Strong Price Appreciation for PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty (TSE:PSK) had its price objective boosted by equities researchers at National Bankshares from C$32.00 to C$35.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 16.09% from the company’s current price.

Other analysts also recently issued reports about the stock. Scotiabank upped their target price on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. Finally, Natl Bk Canada raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. One investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$30.00.

PrairieSky Royalty Stock Up 1.7%

Shares of TSE:PSK opened at C$30.15 on Tuesday. The firm has a market capitalization of C$7.02 billion, a P/E ratio of 32.42, a P/E/G ratio of 0.47 and a beta of 0.79. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The stock has a 50 day moving average price of C$27.46 and a 200-day moving average price of C$25.85. PrairieSky Royalty has a 52-week low of C$21.97 and a 52-week high of C$30.26.

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.