PrairieSky Royalty (TSE:PSK) Price Target Raised to C$30.00

Key Points

• Raymond James Financial raised its target price for PrairieSky Royalty from C$29.00 to C$30.00, suggesting a potential upside of 19.33% from its current price.
• PrairieSky Royalty's stock has received various ratings, with one Strong Buy, two Buy, and three Hold ratings, leading to an average rating of "Moderate Buy".
• The stock traded down 0.4% to C$25.14, with a current market cap of C$5.92 billion and a P/E ratio of 27.03.

PrairieSky Royalty (TSE:PSK - Get Free Report) had its target price upped by research analysts at Raymond James Financial from C$29.00 to C$30.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 19.33% from the stock's current price.

PSK has been the subject of several other research reports. Scotiabank upped their target price on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 9th. Canaccord Genuity Group reduced their target price on shares of 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. Finally, National Bankshares upgraded shares of PrairieSky Royalty from a "sector perform" rating to an "outperform" rating and increased their price target for the company from C$32.00 to C$33.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$29.43.

PrairieSky Royalty Stock Down 0.4%

PSK traded down C$0.09 during trading on Wednesday, hitting C$25.14. 233,863 shares of the company's stock were exchanged, compared to its average volume of 404,192. 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 business's 50 day moving average is C$24.83 and its two-hundred day moving average is C$24.00. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$30.66. The stock has a market cap of C$5.92 billion, a P/E ratio of 27.03, a PEG ratio of 0.47 and a beta of 0.80.

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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