PrairieSky Royalty (TSE:PSK) Shares Pass Below 50 Day Moving Average – What’s Next?

PrairieSky Royalty Ltd. (TSE:PSK) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$26.73 and traded as low as C$25.84. PrairieSky Royalty shares last traded at C$25.89, with a volume of 449,235 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PSK shares. Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. National Bankshares raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$32.00 to C$33.00 in a research report on Tuesday, October 21st. Natl Bk Canada raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, Scotiabank raised their price target on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$29.50.

PrairieSky Royalty Price Performance

The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The company has a fifty day moving average price of C$26.73 and a two-hundred day moving average price of C$25.24. The company has a market cap of C$6.02 billion, a P/E ratio of 27.84, 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.