Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.32 and traded as low as C$23.07. PrairieSky Royalty shares last traded at C$23.16, with a volume of 643,369 shares.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on PSK shares. TD Securities upgraded PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 target price for the company in a report on Wednesday, April 9th. CIBC lowered their target price on PrairieSky Royalty from C$31.50 to C$28.00 in a report on Thursday, April 10th. Finally, Scotiabank upgraded PrairieSky Royalty to a "hold" rating in a report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$30.86.
Check Out Our Latest Stock Analysis on PSK
PrairieSky Royalty Price Performance
The company has a market cap of C$5.49 billion, a P/E ratio of 25.52, a PEG ratio of 0.47 and a beta of 1.78. The company has a fifty day moving average price of C$23.49 and a two-hundred day moving average price of C$26.21. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.
Insider Activity
In other PrairieSky Royalty news, Senior Officer Pamela Pearl Kazeil purchased 2,000 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, April 22nd. The stock was acquired at an average price of C$23.57 per share, for a total transaction of C$47,147.00. Also, Senior Officer Daniel James Bertram purchased 1,990 shares of PrairieSky Royalty stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of C$23.63 per share, with a total value of C$47,024.70. Insiders purchased 24,990 shares of company stock worth $591,699 in the last quarter. Corporate 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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