PrairieSky Royalty (TSE:PSK) Stock Rating Upgraded by Roth Mkm

Key Points

• Roth Mkm upgraded PrairieSky Royalty (TSE:PSK) to a strong-buy, while the broker consensus remains a Moderate Buy (one Strong Buy, three Buy, three Hold) with an average price target of C$32.25.
• PSK traded at C$34.35—near its 1‑year high of C$34.50—with 50‑day/200‑day moving averages of C$31.89/C$28.80; the company has a market cap of C$7.98B, a P/E of 39.94 and a PEG of 0.47.
• Insider activity: Director Margaret Anne Mckenzie purchased 8,400 shares at C$29.92, a 13.9% increase in her holdings, and insiders collectively own 0.54% of the stock.

PrairieSky Royalty (TSE:PSK - Get Free Report) was upgraded by Roth Mkm to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on PSK. National Bank Financial raised their price objective on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Raymond James Financial lowered shares of PrairieSky Royalty from a "moderate buy" rating to a "hold" rating and raised their price target for the stock from C$35.00 to C$35.50 in a report on Monday, March 30th. BMO Capital Markets raised their price target on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. TD Securities raised their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Finally, Scotiabank raised their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, PrairieSky Royalty has an average rating of "Moderate Buy" and an average price target of C$32.25.

PrairieSky Royalty Trading Up 0.1%

PSK opened at C$34.35 on Thursday. The company's 50 day moving average is C$31.89 and its 200-day moving average is C$28.80. PrairieSky Royalty has a 1-year low of C$22.38 and a 1-year high of C$34.50. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 9.36. The company has a market cap of C$7.98 billion, a P/E ratio of 39.94, a PEG ratio of 0.47 and a beta of 0.50.

Insider Activity at PrairieSky Royalty

In related news, Director Margaret Anne Mckenzie acquired 8,400 shares of PrairieSky Royalty stock in a transaction dated Wednesday, February 11th. The stock was bought at an average price of C$29.92 per share, with a total value of C$251,328.00. Following the transaction, the director directly owned 68,850 shares in the company, valued at C$2,059,992. This represents a 13.90% increase in their position. 0.54% of the stock is currently owned by company 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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.

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