PrairieSky Royalty (TSE:PSK) Price Target Raised to C$30.00

PrairieSky Royalty (TSE:PSK) had its target price raised by Scotiabank from C$29.00 to C$30.00 in a research note released on Tuesday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts also recently commented on PSK. Natl Bk Canada raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Finally, National Bankshares upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$32.00 to C$33.00 in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$29.67.

PrairieSky Royalty Stock Performance

Shares of PSK opened at C$27.72 on Tuesday. 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 firm has a market cap of C$6.45 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 0.47 and a beta of 0.74. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$28.43. The company’s 50 day simple moving average is C$27.03 and its 200-day simple moving average is C$25.50.

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.