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

PrairieSky Royalty (TSE:PSK) had its target price raised by National Bankshares from C$32.00 to C$35.00 in a report published on Tuesday morning,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Scotiabank raised their target price on shares of 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. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and raised their price objective for the company from C$30.00 to C$35.00 in a research report on Tuesday, December 9th. Finally, Natl Bk Canada raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and an average price target of C$30.00.

PrairieSky Royalty Trading Up 2.1%

PrairieSky Royalty stock opened at C$29.65 on Tuesday. 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 fifty-two week low of C$21.97 and a fifty-two week high of C$29.98. The stock has a market cap of C$6.90 billion, a P/E ratio of 31.88, a PEG ratio of 0.47 and a beta of 0.79. The firm’s fifty day moving average price is C$27.39 and its 200-day moving average price is C$25.82.

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.