BMO Capital Markets Issues Positive Forecast for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its price target raised by BMO Capital Markets from C$32.00 to C$34.00 in a research note published on Tuesday,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on PSK. National Bankshares upped their price objective on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. TD Securities boosted their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank upped their price target on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Finally, Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price objective for the stock from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.57.

PrairieSky Royalty Stock Performance

PSK opened at C$29.48 on Tuesday. PrairieSky Royalty has a 52-week low of C$21.97 and a 52-week high of C$30.69. The firm has a market capitalization of C$6.86 billion, a PE ratio of 31.70, a PEG ratio of 0.47 and a beta of 0.79. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The business’s 50-day simple moving average is C$27.71 and its 200 day simple moving average is C$26.03.

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.