Canaccord Genuity Group Lowers PrairieSky Royalty (TSE:PSK) Price Target to C$25.00

PrairieSky Royalty (TSE:PSK - Get Free Report) had its price objective decreased by research analysts at Canaccord Genuity Group from C$26.00 to C$25.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 3.99% from the company's previous close.

Several other analysts also recently issued reports on PSK. TD Securities upgraded PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target for the company in a research note on Wednesday, April 9th. Scotiabank upgraded PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. Finally, CIBC cut their target price on PrairieSky Royalty from C$31.50 to C$28.00 in a research report on Thursday, April 10th. Four 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$29.88.

PrairieSky Royalty Stock Down 0.4%

TSE:PSK traded down C$0.09 during trading hours on Tuesday, hitting C$24.04. 280,159 shares of the company's stock traded hands, compared to its average volume of 437,231. The firm has a market cap of C$5.73 billion, a P/E ratio of 26.63, a P/E/G ratio of 0.47 and a beta of 1.78. PrairieSky Royalty has a twelve month low of C$21.97 and a twelve month high of C$30.66. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The stock's fifty day moving average price is C$23.51 and its two-hundred day moving average price is C$25.18.

Insiders Place Their Bets

In other news, Senior Officer Pamela Pearl Kazeil bought 2,000 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was bought at an average cost of C$23.57 per share, with a total value of C$47,147.00. Also, Senior Officer Daniel James Bertram bought 1,990 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of C$23.63 per share, with a total value of C$47,024.70. Insiders have purchased a total of 4,990 shares of company stock valued at $117,737 over the last ninety days. 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.