PrairieSky Royalty (TSE:PSK) Hits New 52-Week Low After Analyst Downgrade

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) shares reached a new 52-week low during trading on Thursday after CIBC lowered their price target on the stock from C$31.50 to C$28.00. The stock traded as low as C$21.97 and last traded at C$24.26, with a volume of 763116 shares traded. The stock had previously closed at C$22.40.

A number of other equities research analysts have also recently commented on PSK. TD Securities raised shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 target price for the company in a research report on Wednesday, April 9th. Scotiabank upgraded PrairieSky Royalty to a "hold" rating in a report on Wednesday, March 19th. Finally, National Bankshares raised their price objective on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$30.44.

PrairieSky Royalty Price Performance

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 stock's 50 day moving average price is C$25.91 and its two-hundred day moving average price is C$27.48. The stock has a market cap of C$5.58 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78.

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.