PrairieSky Royalty Ltd. (TSE:PSK) Receives Average Rating of “Moderate Buy” from Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$32.25.

A number of equities analysts have commented on PSK shares. BMO Capital Markets lifted their price target on PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. TD Securities lifted their price target on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Raymond James Financial cut PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and lifted their price target for the stock from C$35.00 to C$35.50 in a research note on Monday, March 30th. National Bank Financial lifted their price target on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Scotiabank lifted their price target on PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 10th.

PrairieSky Royalty Stock Performance

Shares of TSE PSK opened at C$33.60 on Thursday. The stock has a market cap of C$7.81 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 0.47 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 9.36. PrairieSky Royalty has a 1-year low of C$22.38 and a 1-year high of C$35.89. The stock’s 50-day moving average is C$32.90 and its 200 day moving average is C$29.94.

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.