PrairieSky Royalty (TSE:PSK) Raised to Outperform at National Bankshares

Key Points

• PrairieSky Royalty has been upgraded to an "outperform" rating by National Bankshares, with the price objective raised from C$32.00 to C$33.00, suggesting a potential upside of 29.82%.
• As of recent trading, PrairieSky Royalty's stock increased by 1.4%, reaching C$25.42, with a market capitalization of C$5.99 billion.
• The company currently holds an average rating of "Moderate Buy" from analysts, with a consensus target price of C$29.29.

PrairieSky Royalty (TSE:PSK - Get Free Report) was upgraded by equities researchers at National Bankshares from a "sector perform" rating to an "outperform" rating in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a C$33.00 price objective on the stock, up from their previous price objective of C$32.00. National Bankshares' price target would suggest a potential upside of 29.82% from the company's current price.

A number of other research analysts also recently issued reports on PSK. Scotiabank upped their price target on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. Raymond James Financial upped their price target on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "market perform" rating in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group lowered their price target on PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating on the stock in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$29.29.

PrairieSky Royalty Stock Up 1.4%

PrairieSky Royalty stock traded up C$0.35 during mid-day trading on Tuesday, hitting C$25.42. The company had a trading volume of 385,304 shares, compared to its average volume of 403,221. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The stock's 50 day moving average price is C$24.80 and its two-hundred day moving average price is C$23.99. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$30.66. The company has a market capitalization of C$5.99 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80.

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.

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