PrairieSky Royalty (TSE:PSK) Upgraded by TD Securities to “Buy” Rating

PrairieSky Royalty (TSE:PSK) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a C$27.00 price objective on the stock. TD Securities’ price objective points to a potential upside of 19.31% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Scotiabank raised shares of PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. National Bankshares lifted their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$30.44.

PrairieSky Royalty Stock Performance

PrairieSky Royalty stock opened at C$22.63 on Wednesday. The company has a market cap of C$5.40 billion, a PE ratio of 25.07, a P/E/G ratio of 0.47 and a beta of 1.78. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$30.66. The company has a fifty day moving average price of C$26.10 and a two-hundred day moving average price of C$27.55. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

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.