PrairieSky Royalty (TSE:PSK) Price Target Raised to C$29.00 at Raymond James Financial

PrairieSky Royalty (TSE:PSK - Get Free Report) had its price objective lifted by equities researchers at Raymond James Financial from C$28.00 to C$29.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 19.44% from the stock's previous close.

Several other equities analysts have also recently weighed in on PSK. CIBC dropped their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a report on Thursday, April 10th. Canaccord Genuity Group reduced their price objective on PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating on the stock in a research report on Tuesday. TD Securities upgraded 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. Finally, Scotiabank upgraded PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$29.88.

PrairieSky Royalty Stock Performance

TSE:PSK traded up C$0.71 during mid-day trading on Tuesday, hitting C$24.28. 563,334 shares of the stock were exchanged, compared to its average volume of 435,815. The stock has a market capitalization of C$5.79 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The firm's 50-day simple moving average is C$23.49 and its 200 day simple moving average is C$25.19. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$30.66.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Pamela Pearl Kazeil acquired 2,000 shares of the company's 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 Andrew Phillips bought 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was acquired at an average price of C$23.70 per share, for a total transaction of C$473,962.00. Insiders purchased a total of 24,990 shares of company stock worth $591,699 in the last quarter. Insiders own 0.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.