PrairieSky Royalty Ltd. (TSE:PSK) Receives C$29.67 Consensus Target Price from Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$29.67.

Several analysts recently issued reports on the company. Scotiabank lifted their target price on PrairieSky Royalty from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 20th. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Finally, National Bankshares upgraded shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$32.00 to C$33.00 in a research report on Tuesday, October 21st.

PrairieSky Royalty Price Performance

Shares of TSE:PSK opened at C$27.94 on Friday. The business has a 50-day simple moving average of C$27.05 and a two-hundred day simple moving average of C$25.56. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$28.43. The firm has a market cap of C$6.50 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 0.47 and a beta of 0.74. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

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.