PrairieSky Royalty (TSE:PSK) Sets New 1-Year High – Still a Buy?

PrairieSky Royalty Ltd. (TSE:PSK) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$30.56 and last traded at C$30.31, with a volume of 285621 shares. The stock had previously closed at C$30.22.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. National Bankshares boosted their target price on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report 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. Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and raised their target price for the company from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. Finally, Scotiabank boosted their price target on PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.00.

PrairieSky Royalty Price Performance

The firm has a fifty day moving average of C$27.65 and a 200 day moving average of C$25.99. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The company has a market capitalization of C$7.05 billion, a P/E ratio of 32.59, a P/E/G ratio of 0.47 and a beta of 0.79.

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.