PrairieSky Royalty (TSE:PSK) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

PrairieSky Royalty Ltd. (TSE:PSK) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$33.09 and traded as high as C$35.15. PrairieSky Royalty shares last traded at C$34.79, with a volume of 402,791 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSK. BMO Capital Markets increased their price target 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, February 10th. Roth Mkm raised shares of PrairieSky Royalty to a “strong-buy” rating in a report on Thursday, April 30th. Scotiabank increased their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 10th. Raymond James Financial cut shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$35.00 to C$35.50 in a report on Monday, March 30th. Finally, TD Securities increased their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, PrairieSky Royalty currently has a consensus rating of “Moderate Buy” and an average price target of C$32.25.

PrairieSky Royalty Stock Up 1.0%

The company has a debt-to-equity ratio of 9.36, a current ratio of 0.83 and a quick ratio of 0.65. The firm’s 50-day simple moving average is C$33.09 and its two-hundred day simple moving average is C$30.25. The company has a market capitalization of C$8.09 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75.

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.