PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$23.57 and traded as high as C$24.13. PrairieSky Royalty shares last traded at C$24.09, with a volume of 249,430 shares changing hands.
Analyst Ratings Changes
Several research analysts have recently issued reports on PSK shares. CIBC cut their price target on PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. Canaccord Genuity Group dropped 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 report on Tuesday, July 15th. TD Securities raised shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target on the stock in a report on Wednesday, April 9th. Finally, Raymond James Financial increased their price target on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "market perform" rating in a research report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$29.86.
View Our Latest Stock Analysis on PSK
PrairieSky Royalty Price Performance
The company has a market capitalization of C$5.71 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 0.47 and a beta of 1.78. 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 company's 50 day simple moving average is C$23.60 and its 200-day simple moving average is C$24.94.
Insider Transactions at PrairieSky Royalty
In other news, Senior Officer Daniel James Bertram bought 1,990 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of C$23.63 per share, with a total value of C$47,024.70. 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.
Further Reading
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