PrairieSky Royalty (TSE:PSK) Sets New 1-Year High – What’s Next?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) reached a new 52-week high on Thursday . The stock traded as high as C$30.82 and last traded at C$30.80, with a volume of 44527 shares. The stock had previously closed at C$30.13.

Analyst Ratings Changes

PSK has been the subject of several recent research reports. TD Securities lifted their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. BMO Capital Markets increased their target price on PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. Scotiabank raised their price target on PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 10th. National Bank Financial boosted their price objective on PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial raised PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and lifted their target price for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, PrairieSky Royalty currently has an average rating of “Moderate Buy” and an average price target of C$31.57.

PrairieSky Royalty Price Performance

The business has a 50 day simple moving average of C$27.98 and a two-hundred day simple moving average of C$26.26. The firm has a market capitalization of C$7.13 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 0.47 and a beta of 0.79. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

Insider Transactions at PrairieSky Royalty

In related news, Director Margaret Anne Mckenzie acquired 8,400 shares of the stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average price of C$29.92 per share, for a total transaction of C$251,328.00. Following the transaction, the director owned 68,850 shares in the company, valued at C$2,059,992. This represents a 13.90% increase in their position. 0.54% of the stock is currently owned by insiders.

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.