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

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is C$32.25.

Several equities research analysts have recently issued reports on PSK shares. Raymond James Financial cut PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$35.00 to C$35.50 in a report on Monday, March 30th. National Bank Financial raised their price objective on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Roth Mkm upgraded PrairieSky Royalty to a “strong-buy” rating in a report on Thursday. Scotiabank raised their price objective on PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 10th. Finally, TD Securities raised their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th.

PrairieSky Royalty Price Performance

PSK stock opened at C$34.35 on Friday. PrairieSky Royalty has a 52-week low of C$22.38 and a 52-week high of C$34.50. The stock’s fifty day simple moving average is C$31.89 and its 200-day simple moving average is C$28.83. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 9.36. The stock has a market capitalization of C$7.98 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50.

Insider Activity

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie acquired 8,400 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were acquired at an average price of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the acquisition, the director directly owned 68,850 shares of the company’s stock, valued at C$2,059,992. This trade represents a 13.90% increase in their ownership of the stock. 0.54% of the stock is owned by company insiders.

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.