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

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) has received an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong 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$30.86.

A number of equities analysts have recently issued reports on the stock. TD Securities raised shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price objective on the stock in a research report on Wednesday, April 9th. Scotiabank upgraded PrairieSky Royalty to a "hold" rating in a report on Wednesday, March 19th. Finally, CIBC decreased their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a report on Thursday, April 10th.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Daniel James Bertram bought 1,990 shares of the company's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of C$23.63 per share, for a total transaction of C$47,024.70. Also, Senior Officer Andrew Phillips acquired 20,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average price of C$23.70 per share, with a total value of C$473,962.00. Insiders bought a total of 24,990 shares of company stock worth $591,699 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

PrairieSky Royalty Trading Up 2.4%

TSE PSK traded up C$0.58 during trading hours on Tuesday, hitting C$24.29. 515,638 shares of the company's stock were exchanged, compared to its average volume of 443,689. PrairieSky Royalty has a 1-year low of C$21.97 and a 1-year high of C$30.66. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The stock has a 50-day simple moving average of C$23.31 and a 200 day simple moving average of C$25.99. The firm has a market cap of C$5.79 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 0.47 and a beta of 1.78.

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.