PrairieSky Royalty (TSE:PSK) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

PrairieSky Royalty Ltd. (TSE:PSK)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$33.09 and traded as high as C$35.15. PrairieSky Royalty shares last traded at C$34.79, with a volume of 402,791 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Securities upped their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Scotiabank upped their target price on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a report on Tuesday, February 10th. Raymond James Financial cut shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$35.00 to C$35.50 in a report on Monday, March 30th. Roth Mkm raised shares of PrairieSky Royalty to a “strong-buy” rating in a report on Thursday, April 30th. Finally, BMO Capital Markets upped their target price on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.25.

PrairieSky Royalty Stock Up 1.0%

The firm has a market capitalization of C$8.09 billion, a PE ratio of 40.45, a PEG ratio of 0.47 and a beta of 0.75. The business’s fifty day moving average price is C$33.09 and its 200 day moving average price is C$30.25. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 9.36.

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.