PrairieSky Royalty (TSE:PSK) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• PrairieSky Royalty's stock has crossed above its 50-day moving average, trading at C$23.78 with a volume of 132,610 shares.
• The company has received mixed analyst ratings, with a consensus of Moderate Buy and an average price target of C$29.86.
• PrairieSky Royalty has a market capitalization of C$5.67 billion and a debt-to-equity ratio of 3.48.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$23.80 and traded as high as C$23.86. PrairieSky Royalty shares last traded at C$23.78, with a volume of 132,610 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSK. Raymond James Financial boosted their target price 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. Canaccord Genuity Group lowered their price objective on shares of PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating for the company in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, PrairieSky Royalty currently has a consensus rating of "Moderate Buy" and an average target price of C$29.86.

PrairieSky Royalty Stock Up 1.4%

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 stock has a market capitalization of C$5.68 billion, a P/E ratio of 26.38, a P/E/G ratio of 0.47 and a beta of 1.78. The firm has a 50-day simple moving average of C$23.82 and a 200 day simple moving average of C$24.48.

About PrairieSky Royalty

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.