Scotiabank Issues Positive Forecast for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its price objective raised by Scotiabank from C$30.00 to C$31.00 in a research note published on Tuesday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

PSK has been the topic of several other research reports. Raymond James Financial raised 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. National Bankshares lifted their target price on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. TD Securities upped their price target on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday. Natl Bk Canada raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Finally, BMO Capital Markets raised their price objective on PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment 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. According to MarketBeat.com, PrairieSky Royalty has a consensus rating of “Moderate Buy” and a consensus price target of C$31.57.

PrairieSky Royalty Stock Down 2.7%

TSE:PSK opened at C$29.48 on Tuesday. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$30.69. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The company has a market cap of C$6.86 billion, a PE ratio of 31.70, a P/E/G ratio of 0.47 and a beta of 0.79. The firm’s 50 day simple moving average is C$27.71 and its 200 day simple moving average is C$26.03.

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.