PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.
Analysts Set New Price Targets
Several research firms have issued reports on PSK. CIBC dropped their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. Scotiabank raised shares of PrairieSky Royalty to a "hold" rating in a report on Wednesday, March 19th. Finally, TD Securities upgraded 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. Three 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, PrairieSky Royalty currently has an average rating of "Moderate Buy" and a consensus price target of C$30.86.
Read Our Latest Analysis on PSK
PrairieSky Royalty Stock Down 0.7%
The company has a market cap of C$5.50 billion, a P/E ratio of 25.54, a PEG ratio of 0.47 and a beta of 1.78. 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 firm has a fifty day moving average price of C$23.61 and a 200 day moving average price of C$26.28.
Insider Buying and Selling
In other news, Senior Officer Andrew Phillips acquired 20,000 shares of PrairieSky Royalty stock in a transaction on Wednesday, April 16th. The shares were purchased at an average price of C$23.70 per share, with a total value of C$473,962.00. Also, Senior Officer Pamela Pearl Kazeil acquired 2,000 shares of the firm's stock in a transaction 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 purchased a total of 24,990 shares of company stock worth $591,699 in the last 90 days. 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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