Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Price Target at C$29.67

PrairieSky Royalty Ltd. (TSE:PSK) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$29.67.

Several equities research analysts recently weighed in on the stock. 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. Scotiabank upped their target price on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the company 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 increased their price target for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Finally, National Bankshares raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$32.00 to C$33.00 in a research note on Tuesday, October 21st.

PrairieSky Royalty Stock Performance

TSE:PSK opened at C$28.61 on Friday. The company has a market cap of C$6.66 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 0.47 and a beta of 0.74. PrairieSky Royalty has a 1 year low of C$21.97 and a 1 year high of C$28.86. The stock’s 50 day simple moving average is C$27.12 and its two-hundred day simple moving average is C$25.63. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

PrairieSky Royalty Company Profile

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.