PrairieSky Royalty (TSE:PSK) Share Price Passes Above 50 Day Moving Average - Should You Sell?

Key Points

• PrairieSky Royalty Ltd. has seen its stock price rise above the fifty-day moving average of C$23.83, reaching a high of C$24.39 before closing at C$24.19.
• Analysts' ratings for PrairieSky show a mixed outlook, with a consensus rating of "Moderate Buy" and an average target price of C$29.86.
• The company's market capitalization stands at C$5.77 billion, featuring a PE ratio of 26.79 and a high debt-to-equity ratio of 3.48.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$23.83 and traded as high as C$24.39. PrairieSky Royalty shares last traded at C$24.19, with a volume of 463,711 shares trading hands.

Analyst Upgrades and Downgrades

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

PrairieSky Royalty Stock Down 0.9%

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 company has a fifty day simple moving average of C$23.82 and a 200 day simple moving average of C$24.37. The firm has a market capitalization of C$5.73 billion, a P/E ratio of 26.62, a P/E/G ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Company Profile

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.