CIBC Has Lowered Expectations for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its price objective reduced by investment analysts at CIBC from C$31.50 to C$28.00 in a report issued on Thursday,BayStreet.CA reports. CIBC’s price target points to a potential upside of 23.29% from the company’s previous close.

Other analysts also recently issued research reports about the company. TD Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price objective for the company in a research report on Wednesday. National Bankshares upped their price target on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Finally, Scotiabank raised shares of PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$30.44.

PrairieSky Royalty Trading Up 0.4 %

TSE PSK opened at C$22.71 on Thursday. The firm has a market cap of C$5.42 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. PrairieSky Royalty has a 1-year low of C$21.97 and a 1-year high of C$30.66. The stock has a 50-day moving average of C$26.00 and a 200-day moving average of C$27.51. The company has a current ratio of 0.63, a quick ratio of 0.65 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.