PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$23.45 and traded as high as C$23.57. PrairieSky Royalty shares last traded at C$23.53, with a volume of 450,553 shares.
Analyst Ratings Changes
PSK has been the topic of a number of research reports. Scotiabank raised shares of PrairieSky Royalty to a "hold" rating in a research note on Wednesday, March 19th. CIBC decreased their target price on shares of PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. Finally, TD Securities raised shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 target price on the stock in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$30.86.
Check Out Our Latest Stock Analysis on PSK
PrairieSky Royalty Trading Down 1.8%
The company has a market cap of C$5.60 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The business's fifty day moving average price is C$23.46 and its 200 day moving average price is C$25.52. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.
Insider Activity at PrairieSky Royalty
In other news, Senior Officer Andrew Phillips bought 20,000 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average price of C$23.70 per share, for a total transaction of C$473,962.00. Also, Senior Officer Pamela Pearl Kazeil bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average price of C$23.57 per share, for a total transaction of C$47,147.00. Insiders have bought a total of 24,990 shares of company stock worth $591,699 over the last quarter. Company insiders own 0.54% of the company's stock.
About PrairieSky Royalty
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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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