National Bankshares Issues Positive Forecast for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its price objective raised by research analysts at National Bankshares from C$32.00 to C$35.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target suggests a potential upside of 18.72% from the company’s current price.

Several other research firms have also issued reports on PSK. Natl Bk Canada raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Scotiabank boosted their target price on PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Finally, Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and increased their price objective for the stock from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.00.

PrairieSky Royalty Trading Up 1.5%

TSE:PSK traded up C$0.43 during mid-day trading on Tuesday, reaching C$29.48. 164,526 shares of the company’s stock traded hands, compared to its average volume of 382,831. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$29.98. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The company has a 50 day moving average price of C$27.32 and a 200-day moving average price of C$25.78. The firm has a market capitalization of C$6.86 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 0.47 and a beta of 0.74.

PrairieSky Royalty Company Profile

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.