PrairieSky Royalty Ltd. (TSE:PSK) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts have given PrairieSky an average rating of "Moderate Buy" from six firms, with an average 12‑month price target of C$31.57 and several brokers recently raising targets to C$33–C$35.
• Shares opened at C$31.59 and are trading above the 50‑day (C$29.32) and 200‑day (C$27.11) moving averages; the stock has a market cap of C$7.35 billion, a P/E of 36.31 and a PEG of 0.47.
• Insider activity: director Margaret Anne McKenzie bought 8,400 shares at C$29.92 (a 13.9% increase in her holdings); insiders now own 0.54% of the company.

Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$31.57.

A number of equities research analysts recently weighed in on PSK shares. BMO Capital Markets raised their target price on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research note on Tuesday, February 10th. TD Securities boosted 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 research note on Tuesday, February 10th. National Bank Financial increased their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. Scotiabank raised their price objective on shares of 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 raised shares of PrairieSky Royalty from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from C$30.00 to C$35.00 in a report on Tuesday, December 9th.

PrairieSky Royalty Stock Performance

TSE:PSK opened at C$31.59 on Friday. The business's 50-day moving average price is C$29.32 and its two-hundred day moving average price is C$27.11. PrairieSky Royalty has a twelve month low of C$21.97 and a twelve month high of C$32.09. The stock has a market cap of C$7.35 billion, a P/E ratio of 36.31, a PEG ratio of 0.47 and a beta of 0.65. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 9.54.

Insiders Place Their Bets

In other news, Director Margaret Anne Mckenzie purchased 8,400 shares of the stock in a transaction on Wednesday, February 11th. The shares were acquired at an average price of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the transaction, the director directly owned 68,850 shares of the company's stock, valued at approximately C$2,059,992. This trade represents a 13.90% increase in their position. 0.54% of the stock is owned by insiders.

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.

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