PrairieSky Royalty (TSE:PSK) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

PrairieSky Royalty Ltd. (TSE:PSK)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$33.33 and traded as high as C$34.69. PrairieSky Royalty shares last traded at C$34.00, with a volume of 327,065 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSK. Roth Mkm upgraded PrairieSky Royalty to a “strong-buy” rating in a research report on Thursday, April 30th. Raymond James Financial cut PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$35.00 to C$35.50 in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$32.25.

PrairieSky Royalty Price Performance

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$7.90 billion, a PE ratio of 39.53, a PEG ratio of 0.47 and a beta of 0.75. The company has a 50-day moving average of C$33.33 and a 200 day moving average of C$30.54.

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.