PrairieSky Royalty Ltd. (TSE:PSK) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• PrairieSky Royalty Ltd. has received a consensus rating of "Moderate Buy" from analysts, with four hold recommendations, two buys, and two strong buys from the eight brokerages covering the stock.
• The average 12-month price target set by analysts for PrairieSky Royalty is C$29.86, with recent target adjustments including an increase from Raymond James Financial and a decrease from CIBC.
• Insider Daniel James Bertram purchased 1,990 shares at an average price of C$23.63 each, indicating insider confidence in the company as they currently own 0.54% of the stock.

Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Four 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 12-month price objective among analysts that have issued a report on the stock in the last year is C$29.86.

Several research analysts have weighed in on PSK shares. Raymond James Financial lifted their target price on PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a "market perform" rating in a report on Tuesday, July 15th. TD Securities raised PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target on the stock in a research report on Wednesday, April 9th. CIBC decreased their target price on PrairieSky Royalty from C$31.50 to C$28.00 in a research report on Thursday, April 10th. Finally, Canaccord Genuity Group cut their price target on PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating for the company in a research note on Tuesday, July 15th.

Insiders Place Their Bets

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram purchased 1,990 shares of the firm's stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of C$23.63 per share, for a total transaction of C$47,024.70. 0.54% of the stock is owned by insiders.

PrairieSky Royalty Stock Up 0.8%

TSE:PSK opened at C$24.28 on Wednesday. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$30.66. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of C$5.79 billion, a P/E ratio of 26.89, a P/E/G ratio of 0.47 and a beta of 1.78. The stock's fifty day simple moving average is C$23.63 and its 200-day simple moving average is C$24.88.

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.

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