PrairieSky Royalty Ltd. (TSE:PSK) Receives C$30.86 Average Price Target from Brokerages

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$30.86.

A number of equities research analysts have recently issued reports on the company. National Bankshares increased 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. Scotiabank upgraded PrairieSky Royalty to a “hold” rating in a research note on Wednesday, March 19th. TD Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price objective for the company in a research note on Wednesday, April 9th. Finally, CIBC lowered their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th.

PrairieSky Royalty Price Performance

PSK stock opened at C$23.58 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. PrairieSky Royalty has a 1 year low of C$21.97 and a 1 year high of C$30.66. The firm has a market cap of C$5.62 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The stock has a 50-day simple moving average of C$24.34 and a 200-day simple moving average of C$26.72.

Insiders Place Their Bets

In other news, Senior Officer Daniel James Bertram bought 1,990 shares of PrairieSky Royalty stock in a transaction on Monday, May 12th. The shares were bought at an average price of C$23.63 per share, with a total value of C$47,024.70. Also, Senior Officer Andrew Phillips bought 20,000 shares of PrairieSky Royalty stock in a transaction on Wednesday, April 16th. The shares were purchased at an average cost of C$23.70 per share, for a total transaction of C$473,962.00. Insiders have bought a total of 24,990 shares of company stock valued at $591,699 in the last quarter. Insiders own 0.54% of the company’s stock.

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.