PrairieSky Royalty Ltd. (TSE:PSK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong 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$32.25.

Several equities analysts have commented on the company. National Bank Financial raised 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 raised their price objective on 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. Roth Mkm raised PrairieSky Royalty to a “strong-buy” rating in a research report on Thursday, April 30th. Scotiabank raised their price objective on PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 10th. Finally, Raymond James Financial lowered PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from C$35.00 to C$35.50 in a research report on Monday, March 30th.

PrairieSky Royalty Price Performance

Shares of PSK stock opened at C$33.60 on Thursday. The firm has a market cap of C$7.81 billion, a P/E ratio of 39.07, a P/E/G ratio of 0.47 and a beta of 0.57. PrairieSky Royalty has a fifty-two week low of C$22.38 and a fifty-two week high of C$35.89. The business’s 50 day moving average price is C$32.90 and its 200-day moving average price is C$29.94. The company has a debt-to-equity ratio of 9.36, a quick ratio of 0.65 and a current ratio of 0.83.

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.