PrairieSky Royalty Ltd. (TSE:PSK – Get Free Report)’s share price hit a new 52-week high on Friday . The stock traded as high as C$34.65 and last traded at C$34.58, with a volume of 41558 shares changing hands. The stock had previously closed at C$34.19.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on PSK. Scotiabank raised their target price on PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 10th. TD Securities raised their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Raymond James Financial downgraded PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$35.00 to C$35.50 in a research note on Monday, March 30th. Roth Mkm upgraded PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, BMO Capital Markets raised their target price on PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$32.25.
Check Out Our Latest Stock Analysis on PrairieSky Royalty
PrairieSky Royalty Stock Up 2.4%
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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