PrairieSky Royalty (TSE:PSK) Stock Crosses Above Fifty Day Moving Average - Here's What Happened

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$23.49 and traded as high as C$23.65. PrairieSky Royalty shares last traded at C$23.57, with a volume of 541,116 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Securities upgraded PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group lowered their price objective 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. Raymond James Financial upped their price objective 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. Finally, CIBC lowered their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$29.88.

PrairieSky Royalty Price Performance

The firm has a market cap of C$5.78 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 0.47 and a beta of 1.78. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The company has a 50 day moving average of C$23.55 and a 200 day moving average of C$25.14.

Insider Transactions at PrairieSky Royalty

In other news, Senior Officer Pamela Pearl Kazeil bought 2,000 shares of the 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. Also, Senior Officer Daniel James Bertram bought 1,990 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average price of C$23.63 per share, with a total value of C$47,024.70. 0.54% of the stock is currently owned by corporate insiders.

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.