PrairieSky Royalty Ltd. (TSE:PSK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• PrairieSky Royalty Ltd. has received an average recommendation of "Moderate Buy" from analysts, with target prices ranging from C$25.00 to C$29.33.
• The firm announced a quarterly dividend of $0.26 per share, set to be paid on October 15th, yielding 4.2% annually.
• The company has a market cap of C$5.89 billion and a current ratio of 0.63, indicating a higher reliance on debt for financing.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$29.33.

PSK has been the topic of several recent analyst reports. Raymond James Financial lifted their target price on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "market perform" rating in a research note on Tuesday, July 15th. Canaccord Genuity Group cut their target price on PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating on the stock in a research note on Tuesday, July 15th.

PrairieSky Royalty Price Performance

TSE PSK opened at C$25.02 on Thursday. PrairieSky Royalty has a 52 week low of C$21.97 and a 52 week 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 market cap of C$5.89 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. The company has a 50-day moving average price of C$24.05 and a two-hundred day moving average price of C$24.10.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.04 annualized dividend and a yield of 4.2%. PrairieSky Royalty's payout ratio is presently 109.68%.

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.

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