PrairieSky Royalty (TSE:PSK) Rating Increased to Buy at TD Securities

TD Securities upgraded shares of PrairieSky Royalty (TSE:PSK) from a hold rating to a buy rating in a report issued on Wednesday morning,BayStreet.CA reports. TD Securities currently has C$27.00 target price on the stock.

A number of other equities analysts have also recently commented on the company. National Bankshares raised their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Scotiabank upgraded shares of PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. Five equities 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 stock. According to MarketBeat, PrairieSky Royalty currently has an average rating of “Moderate Buy” and a consensus price target of C$30.78.

PrairieSky Royalty Stock Performance

TSE:PSK traded down C$1.52 on Wednesday, hitting C$22.74. The stock had a trading volume of 190,755 shares, compared to its average volume of 392,807. PrairieSky Royalty has a 52-week low of C$21.97 and a 52-week high of C$30.66. The stock has a market cap of C$5.42 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The business’s 50-day simple moving average is C$26.19 and its two-hundred day simple moving average is C$27.58.

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.