PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00 at TD Securities

PrairieSky Royalty (TSE:PSK) had its target price upped by TD Securities from C$30.00 to C$33.00 in a report released on Tuesday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

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

PrairieSky Royalty Stock Down 2.7%

PSK opened at C$29.48 on Tuesday. The firm’s 50-day simple moving average is C$27.71 and its 200-day simple moving average is C$26.03. 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 has a twelve month low of C$21.97 and a twelve month high of C$30.69. The firm has a market cap of C$6.86 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 0.47 and a beta of 0.79.

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.