PrairieSky Royalty Ltd. (TSE:PSK) Receives C$31.57 Average Price Target from Analysts

PrairieSky Royalty Ltd. (TSE:PSK) has earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$31.57.

PSK has been the topic of several recent research reports. National Bank Financial increased 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. TD Securities boosted their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Scotiabank upped their target price on PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 10th. BMO Capital Markets increased their price target on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Finally, Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$30.00 to C$35.00 in a research note on Tuesday, December 9th.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie purchased 8,400 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average cost of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the transaction, the director directly owned 68,850 shares in the company, valued at approximately C$2,059,992. This represents a 13.90% increase in their position. 0.54% of the stock is currently owned by insiders.

PrairieSky Royalty Stock Performance

TSE PSK opened at C$31.91 on Friday. PrairieSky Royalty has a 52-week low of C$21.97 and a 52-week high of C$32.09. The company has a fifty day moving average of C$29.43 and a 200-day moving average of C$27.21. The company has a market capitalization of C$7.43 billion, a P/E ratio of 36.68, a P/E/G ratio of 0.47 and a beta of 0.65. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.65 and a current ratio of 0.64.

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.