CIBC Lowers PrairieSky Royalty (TSE:PSK) Price Target to C$28.00

PrairieSky Royalty (TSE:PSK) had its price target reduced by research analysts at CIBC from C$31.50 to C$28.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 22.54% from the company’s current price.

A number of other brokerages have also commented on PSK. National Bankshares raised their price objective on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. TD Securities raised PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price target on the stock in a research note on Wednesday. Finally, Scotiabank upgraded PrairieSky Royalty to a “hold” rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$30.44.

PrairieSky Royalty Stock Down 5.8 %

TSE PSK traded down C$1.41 during trading hours on Thursday, reaching C$22.85. 353,800 shares of the company’s stock were exchanged, compared to its average volume of 392,998. 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 company has a market capitalization of C$5.45 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company’s 50-day moving average is C$26.19 and its two-hundred day moving average is C$27.58. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$30.66.

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.