PrairieSky Royalty Ltd. (TSE:PSK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$29.67.

PSK has been the subject of several research reports. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. National Bankshares raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$32.00 to C$33.00 in a research note on Tuesday, October 21st. Scotiabank raised their target price on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Raymond James Financial raised PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and upped their price target for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th.

PrairieSky Royalty Trading Down 1.5%

Shares of PSK stock opened at C$27.72 on Friday. The stock has a 50-day simple moving average of C$27.03 and a 200 day simple moving average of C$25.50. The stock has a market capitalization of C$6.45 billion, a P/E ratio of 29.81, a P/E/G ratio of 0.47 and a beta of 0.74. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$28.43. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.