PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$23.38 and traded as high as C$24.40. PrairieSky Royalty shares last traded at C$24.29, with a volume of 247,165 shares trading hands.
Wall Street Analysts Forecast Growth
PSK has been the topic of several analyst reports. TD Securities upgraded PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price objective on the stock in a report on Wednesday, April 9th. CIBC reduced their price target on PrairieSky Royalty from C$31.50 to C$28.00 in a research report on Thursday, April 10th. Finally, Scotiabank raised PrairieSky Royalty to a "hold" rating in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$30.86.
Read Our Latest Analysis on PSK
PrairieSky Royalty Stock Up 1.4%
The company has a market capitalization of C$5.79 billion, a P/E ratio of 26.90, a PEG ratio of 0.47 and a beta of 1.78. 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 company has a 50 day moving average of C$23.38 and a 200-day moving average of C$25.85.
Insider Transactions at PrairieSky Royalty
In related news, Senior Officer Andrew Phillips purchased 20,000 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, April 16th. The shares were bought at an average price of C$23.70 per share, for a total transaction of C$473,962.00. Also, Senior Officer Daniel James Bertram purchased 1,990 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of C$23.63 per share, with a total value of C$47,024.70. In the last three months, insiders have acquired 24,990 shares of company stock worth $591,699. 0.54% of the stock is currently owned by insiders.
PrairieSky Royalty Company Profile
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Get Free Report)
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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