PrairieSky Royalty Ltd. (TSE:PSK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$32.25.

A number of equities research analysts recently weighed in on the company. Scotiabank increased their price target on PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 10th. Roth Mkm raised shares of PrairieSky Royalty to a “strong-buy” rating in a research report on Thursday, April 30th. BMO Capital Markets increased their price objective on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Raymond James Financial lowered shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and increased their price objective for the company from C$35.00 to C$35.50 in a research report on Monday, March 30th. Finally, TD Securities increased their price objective on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th.

PrairieSky Royalty Stock Up 0.1%

Shares of PSK stock opened at C$34.46 on Thursday. The company has a debt-to-equity ratio of 9.36, a quick ratio of 0.65 and a current ratio of 0.83. The firm’s 50-day moving average is C$33.05 and its 200-day moving average is C$30.19. The stock has a market cap of C$8.01 billion, a price-to-earnings ratio of 40.07, a PEG ratio of 0.47 and a beta of 0.75. PrairieSky Royalty has a 52-week low of C$22.76 and a 52-week high of C$35.89.

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.