Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Target Price at C$31.57

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$31.57.

A number of analysts have weighed in on the company. Scotiabank increased their price objective on PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 10th. National Bank Financial boosted their price objective on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$30.00 to C$35.00 in a research report on Tuesday, December 9th. TD Securities increased their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Finally, BMO Capital Markets increased their price objective on PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th.

Insider Activity

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

PrairieSky Royalty Stock Up 1.4%

Shares of TSE:PSK opened at C$30.56 on Tuesday. PrairieSky Royalty has a 1-year low of C$21.97 and a 1-year high of C$30.84. The stock has a market cap of C$7.11 billion, a P/E ratio of 35.13, a P/E/G ratio of 0.47 and a beta of 0.79. The firm has a fifty day moving average price of C$28.05 and a 200 day moving average price of C$26.29. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

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.