TD Securities Issues Positive Forecast for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its price target increased by analysts at TD Securities from C$30.00 to C$33.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 11.49% from the stock’s previous close.

A number of other research firms have also recently commented on PSK. Natl Bk Canada raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Scotiabank upped their target price on PrairieSky Royalty from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. National Bankshares increased their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and increased their price target for the stock from C$30.00 to C$35.00 in a report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$31.57.

PrairieSky Royalty Price Performance

TSE PSK traded down C$0.71 during trading hours on Tuesday, reaching C$29.60. The company’s stock had a trading volume of 255,615 shares, compared to its average volume of 389,586. The firm has a market capitalization of C$6.89 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 0.47 and a beta of 0.79. PrairieSky Royalty has a 1-year low of C$21.97 and a 1-year high of C$30.69. The company’s 50-day moving average is C$27.65 and its two-hundred day moving average is C$25.99. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

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.