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$23.69 and traded as high as C$24.03. PrairieSky Royalty shares last traded at C$23.48, with a volume of 283,441 shares changing hands.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Canaccord Genuity Group lowered their target price on 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. CIBC reduced their target price on PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. TD Securities upgraded 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. Finally, Raymond James Financial raised their price target on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "market perform" rating in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$29.86.
Get Our Latest Analysis on PrairieSky Royalty
PrairieSky Royalty Price Performance
The company has a market capitalization of C$5.60 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 0.47 and a beta of 1.78. The stock has a fifty day simple moving average of C$23.69 and a 200-day simple moving average of C$24.75. 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 Transactions at PrairieSky Royalty
In related news, Senior Officer Daniel James Bertram purchased 1,990 shares of the firm's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of C$23.63 per share, with a total value of C$47,024.70. Insiders own 0.54% of the company's stock.
PrairieSky Royalty Company Profile
(
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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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