PrairieSky Royalty (TSE:PSK) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of PrairieSky Royalty Ltd. (TSE:PSKGet Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$23.83 and traded as high as C$24.39. PrairieSky Royalty shares last traded at C$24.19, with a volume of 463,711 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PSK shares. Raymond James Financial boosted their target price on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a “market perform” rating in a report on Tuesday, July 15th. Canaccord Genuity Group lowered their price objective on shares of PrairieSky Royalty from C$26.00 to C$25.00 and set a “hold” rating on the stock in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$29.86.

View Our Latest Stock Report on PrairieSky Royalty

PrairieSky Royalty Price Performance

The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The stock has a fifty day simple moving average of C$23.83 and a two-hundred day simple moving average of C$24.43. The company has a market cap of C$5.77 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Company Profile

(Get Free Report)

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.

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