PrairieSky Royalty (TSE:PSK) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a C$32.00 price target on the stock, down from their prior price target of C$33.00. TD Securities’ price objective suggests a potential upside of 14.65% from the company’s current price.
PSK has been the topic of several other reports. Canaccord Genuity dropped their price objective on shares of PrairieSky Royalty from C$36.00 to C$35.00 in a research report on Tuesday, February 27th. CIBC increased their price objective on shares of PrairieSky Royalty from C$36.00 to C$40.00 in a research report on Tuesday. Raymond James Financial dropped their price objective on shares of PrairieSky Royalty from C$31.00 to C$30.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. GMP Securities raised shares of PrairieSky Royalty from a “hold” rating to a “buy” rating and dropped their price objective for the company from C$35.50 to C$34.00 in a research report on Thursday, March 1st. Finally, BMO Capital Markets set a C$38.00 price objective on shares of PrairieSky Royalty and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$34.60.
PrairieSky Royalty stock opened at C$27.91 on Thursday. The firm has a market cap of $6,310.00, a PE ratio of 54.73 and a beta of 1.04. PrairieSky Royalty has a 1 year low of C$26.52 and a 1 year high of C$35.90.
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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