PrairieSky Royalty Ltd. (OTCMKTS:PREKF – Get Free Report) rose 0% on Monday. The stock traded as high as $24.70 and last traded at $24.4490. 68,981 shares traded hands during trading, an increase of 54% from the average session volume of 44,894 shares. The stock had previously closed at $24.4420.
Analysts Set New Price Targets
Several brokerages recently weighed in on PREKF. Scotiabank restated a “sector perform” rating on shares of PrairieSky Royalty in a research note on Monday, October 19th. Raymond James Financial reaffirmed a “market perform” rating on shares of PrairieSky Royalty in a research report on Wednesday, September 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of PrairieSky Royalty in a report on Wednesday, October 28th. BMO Capital Markets reissued an “outperform” rating on shares of PrairieSky Royalty in a research report on Tuesday, October 27th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of PrairieSky Royalty in a research note on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PrairieSky Royalty currently has a consensus rating of “Moderate Buy”.
Read Our Latest Research Report on PrairieSky Royalty
PrairieSky Royalty Stock Up 0.0%
The firm’s 50-day simple moving average is $25.10 and its 200-day simple moving average is $23.99.
PrairieSky Royalty Company Profile
PrairieSky Royalty Ltd. is a Canadian mineral-rights and royalty company focused primarily on oil and natural gas interests in Alberta. The company owns extensive fee-simple mineral title and leases those rights to exploration and production companies, which develop and operate the underlying properties.
PrairieSky generates revenue through petroleum and natural gas royalties, lease rentals, lease bonuses, and other payments associated with its mineral lands. Because third-party operators generally fund and conduct exploration, drilling, and production activities, PrairieSky’s business model is focused on managing its land and royalty interests rather than directly operating wells.
Established in 2013, PrairieSky is headquartered in Calgary, Alberta, and its mineral-rights portfolio is concentrated in the Western Canadian Sedimentary Basin, particularly Alberta.
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