PrairieSky Royalty (TSE:PSK) Given New C$31.00 Price Target at Scotiabank

PrairieSky Royalty (TSE:PSK) had its target price hoisted by research analysts at Scotiabank from C$30.00 to C$31.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 4.73% from the company’s current price.

PSK has been the topic of a number of other research reports. Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. 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 note on Tuesday, February 3rd. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. BMO Capital Markets raised their target price on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, TD Securities boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and an average target price of C$31.57.

PrairieSky Royalty Price Performance

TSE:PSK traded down C$0.71 during mid-day trading on Tuesday, reaching C$29.60. The stock had a trading volume of 255,615 shares, compared to its average volume of 389,586. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$30.69. The stock has a market capitalization of C$6.89 billion, a P/E ratio of 31.83, a P/E/G ratio of 0.47 and a beta of 0.79. The firm has a 50 day moving average price of C$27.65 and a two-hundred day moving average price of C$25.99. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

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.