Canaccord Genuity Group Has Lowered Expectations for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK - Get Free Report) had its target price cut by equities research analysts at Canaccord Genuity Group from C$26.00 to C$25.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 3.35% from the stock's current price.

Other analysts also recently issued reports about the stock. Scotiabank raised shares of PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. TD Securities raised shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target on the stock in a report on Wednesday, April 9th. Finally, CIBC dropped their price target on shares of PrairieSky Royalty from C$31.50 to C$28.00 in a 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$29.88.

PrairieSky Royalty Stock Up 0.8%

TSE:PSK traded up C$0.20 during mid-day trading on Tuesday, hitting C$24.19. 271,938 shares of the company's stock were exchanged, compared to its average volume of 434,952. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$30.66. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The business has a fifty day moving average price of C$23.57 and a 200 day moving average price of C$25.12. The company has a market cap of C$5.77 billion, a PE ratio of 26.79, a P/E/G ratio of 0.47 and a beta of 1.78.

Insider Buying and Selling

In other news, Senior Officer Pamela Pearl Kazeil bought 2,000 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were bought at an average price of C$23.57 per share, for a total transaction of C$47,147.00. Also, Senior Officer Daniel James Bertram acquired 1,990 shares of PrairieSky Royalty stock in a transaction dated Monday, May 12th. The shares were bought at an average price of C$23.63 per share, for a total transaction of C$47,024.70. Company 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.