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

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$30.86.

PSK has been the topic of a number of recent analyst reports. TD Securities upgraded shares of PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price target on the stock in a report on Wednesday, April 9th. Scotiabank raised shares of PrairieSky Royalty to a “hold” rating in a research note on Wednesday, March 19th. Finally, CIBC reduced their target price on PrairieSky Royalty from C$31.50 to C$28.00 in a report on Thursday, April 10th.

PrairieSky Royalty Stock Up 0.9%

Shares of PrairieSky Royalty stock opened at C$23.25 on Tuesday. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$30.66. The firm has a market capitalization of C$5.54 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The stock’s fifty day moving average is C$23.34 and its 200-day moving average is C$26.10.

Insiders Place Their Bets

In other news, Senior Officer Daniel James Bertram purchased 1,990 shares of PrairieSky Royalty stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of C$23.63 per share, for a total transaction of C$47,024.70. Also, Senior Officer Pamela Pearl Kazeil purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average cost of C$23.57 per share, with a total value of C$47,147.00. Insiders purchased a total of 24,990 shares of company stock worth $591,699 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

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.